Saturday, 6 March 2010
Hyundai to shift part of i20 production to Europe
Hyundai Motors India Limited (HMIL) has planned to shift part of Hyundai i20 production to Europe due to volatility of the rupee, poor power availability, inadequate export incentive and labour problem. However, the company is to set one more production base in the continent. In November 2008, the company sent a consignment of 2,820 units to the European market. Around 17,000 made in India Hyundai i20 cars were exported to Europe in the first quarter of the current year. It may be recalled that the company claimed to produce i20 for the European market, would be met through production facility at the Sriperumpudur. But now due to several reasons, the company wants to move out.
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