Hyundai to expand its exports of auto parts

Hyundai to expand its exports of auto parts

South Korean automaker Hyundai has said that they are expecting to increase their exports of the automotive parts. The company added that they are aiming to sell around $2.1 billion worth of commercial vehicle parts to Russia by 2010.

The company would provide 77,000 buses and trucks by 2010 on a knockdown basis. These would be assembled in a new factory in the country for local sales. The company has recently gone into collaboration with Rostovsky Zavod Gruzovikh Avtomobilei.

RZGA would be making all the requirement investments to setup this plant to assemble the commercial vehicles. This plant would be located at in Taganrog, 860 kilometers south of Moscow. Hyundai already operates a plant for passenger vehicles manufactured on a similar basis at this location.