The Chosun Ilbo (one of Korea's largest sources for news) reported earlier today (Aug. 26,2013) that Hyundai Dymos, the parts making branch of Hyundai Motor Company is ready and set to build a parts plant in West Point,Georgia. The annoncement comes after the Governor of Georgia, Nathan Deal, made a visit to South Korea to visit with Hyundai's CEO Chung Mong-koo.
Hyundai Motor company is set to invest more than $35 Million dollars over the next two years. Kia and Hyundai both have a combined vehicle maximum manufacturing capacity of about 600,000 vehicles a year, both plants running at maximum capacity since they've been built in 2009 to meet high demands.
Sales have been more than enough for Hyundai and in some cases, have set some records for the amount of certain cars that the plants have been producing. In Hyundai's June press release CEO of Hyundai North America John Krafcik stated how,
"Our plants continue to work at maximum capacity to meet record demand levels across our lineup. Elantra and Sonata remain extremely hot sellers for us, with that duo exceeding 45,000 combined sales for the first time ever Our core products – Elantra, Sonata and Santa Fe – all performed exceptionally well. We’re selling each of these three U.S-built products as fast as we can build them."
With both Hyundai and Kia manufacturing plants,more than 6000 jobs were created. In addition, subcontractors working with Hyundai have employed around 14,000 more employees. As of today, Hyundai provides more than 20,000 jobs to workers in the United States. With the addition of this plant, more jobs for the American work force are on the way.
Although the green for go hasn't been given by the State of Georgia or Harris county, Hyundai is quoted to be optimistic about the whole deal.
This is a classic case of strong capital investment by Hyundai and is indication that the company is doing well to invest in such uncertain times in the United States.
Souce: The Chosun Ilbo