Hyundai To Build Plant in Czech Republic

Following yesterday's blog regarding Hyundai-Kia expansion plans...

South Korea's Hyundai Motor plans to build a 1 billion euro ($1.2 billion) car plant in the Czech Republic to meet rising demand for its compact cars in Europe.

Hyundai Motor's Chairman Chung Mong Koo, who met with Czech Prime Minister Jiri Paroubek (following his trip to Slovakia), is considering three sites for the plant in Ostrava, the third-largest Czech city.

Hyundai Motor, which sells three out of every four cars overseas, is expanding in Europe after its sales in the region rose 12 percent this year on demand for Getz and Atoz models. The Ostrava factory, which follows rival Toyota Motor Corp.'s decision to begin production in the country, will add to output from Hyundai's new plants in the U.S., China and India.