Hyundai Assan ready to double its production

May 24 2013 17:19:40

Hyundai Assan ready to double its production

HYUNDAI - Reuters

REUTERS photo

Hyundai Assan, a joint venture owned by South Korean automotive manufacturer Hyundai and Turkey’s Kibar Holding, announced it is almost ready to realize its target of increasing its automotive production to at least 200,000 units from 100,000 in its İzmit plant near Istanbul, according to a press release by the company on May 24.

In the framework investment plan of over $1 billion, the company had announced last year it would double its production in the coming years. The company officials have lately said that they are almost ready to realize their plan, less than a year after they had first announced it. Hyundai Assan will launch the production line for the new i10 model for both European and Turkish markets, adding around 800 direct new jobs soon, thus reaching 6,300 employees in total.

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