DAILY - UPDATED
Hyundai-Kia target 1 million overseas cars for 2007
Hyundai and Kia together appear to set to manufacture one million cars overseas this year.
According to data from the Korea Automobile Manufacturers Association on Tuesday, Hyundai Motor and Kia Motors together rolled out 556,053 cars in factories in the U.S., India, Turkey, China and Slovakia in the first half of this year.
Last year’s overseas production was 844,409 cars for Hyundai and 12,433 cars for Kia. Based on their output so far, Hyundai and Kia look likely to hit the one million mark overseas this year.
Meanwhile Hyundai increased its annual production capacity in Turkey last April by 40,000 to 100,000, and is also planning to start up a second factory in India in November with production aimed at 300,000 units annually.
Kia is set to complete construction on a second factory in China in October also capable of producing 300,000 units a year.
Production will start off at 150,000 units annually until 2011 when the company will turn up output to up to 300,000 units.