Hyundai to build $600 million plant in Sao Paulo, Brazil

James Choi(2nd from the left), President of Hyundai Motor Co.’s International Sales Division, Jose Serra(3rd from the left), Governor of Sao Paulo State, and Alberto Goldman(4th from the left), Vice-governor of Sao Paulo State

SAO PAULO, Brazil : September 19, 2008 - Hyundai Motor Company has chosen Sao Paulo, Brazil as the site for its seventh overseas production base. James Choi, President of Hyundai Motor Co.’s International Sales Division and Jose Serra, Governor of Sao Paulo State signed a Memorandum of Understanding at the Governor’s palace in Sao Paulo City.


ccording to the agreement, Hyundai Motor will invest about $600 million into the wholly-owned subsidiary in the first phase, to build a 100,000 units-a-year plant in Piracicaba City in Sao Paulo State. The groundbreaking ceremony for the plant is scheduled to take place in November this year.

[Source : HYUNDAI]