Hyundai, Russian plant sign car assembly agreement
The commercial branch of Hyundai Motor Co. and the Russian Truck and Car Plant in Rostov-on-Don and Hyundai have signed an agreement on the licensed assembly of commercial Hyundai vehicles at the Russian plant, Hyundai's regional headquarters for the CIS and Central Europe told Interfax.
Investment in the project will total $120 million, Hyundai said.
The plant will mainly assemble buses - the 25-seat County and the 33-seat Aero Town - as well as Hyundai tow trucks.
The Russian Car and Truck Plant is expected to produce its first Hyundai bus on September 15, 2006.
In the first stage, the plant will produce 12,000 commercial Hyundai vehicles per year, before moving up to 35,000 in the future