The Hyundai Motor Company was founded in 1967 and has production plants in South Korea, Turkey, the US, China, India, the Czech Republic, Russia, and Brazil. It has been named the “best improving brand” in the automotive industry for three consecutive years. Hyundai sells vehicles in almost 200 countries and is the 5th largest carmaker in the world in terms of production and sales.
Hyundai first entered Turkey in 1990. In 1995, following robust demand and high sales, the company established a factory in Izmit and started mass production in July 1997. The plant has an annual production capacity of 215,000 vehicles and is located on 1 million square meters of land in the Alikahya region of the northwestern Anatolian province of Kocaeli. 700,000 square meters is allocated for the factory and 108,000 square meters is devoted to production activities.
Hyundai Assan employs more than 2,500 people and manufactures the i10 and i20 hatchback models in its Izmit factory, following its new investment of EUR 450 million. The company sells these vehicles in the domestic market and exports to more than 40 countries, including Germany, France, Italy, Spain and the UK, being the small car production hub for Europe, as well as to Middle Eastern and African markets.
The company is expected to achieve total annual exports revenue of around EUR 1.5 billion once the plant begins to operate at full capacity. Therefore, the added-value provided by Hyundai Assan for the Turkish economy and the Turkish people is also projected to increase.
Source: http://www.invest.gov.tr/en-US/successstories/Pages/Hyundai.aspx
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