Hyundai-Kia is planning to raise its car production in Russia to 500,000 units a year, as well as set up the manufacturing of engines and transmission lines, a motor industry expert said on Tuesday.
He said the automaker would operate three plants in Russia - one in St. Petersburg (150,000 cars a year), the second at the TagAZ Taganrog-based auto plant (150,000), and the third at Izhavto (200,000).
He added that it would take the South Korean concern several years to reach the projected capacity.
Hyundai began building the $450-million plant near St. Petersburg in June 2008. The new plant will have an initial annual production capacity of 100,000 vehicles.
Hyundai sold a total of 74,607 vehicles in Russia in 2009, becoming the No. 3 foreign brand after Ford Motor Co. and General Motors Co.'s Chevrolet.
In the first two months of this year, Hyundai sold 11,821 units in Russia, accounting for 10.4% of imported vehicles.
MOSCOW, May 18 (RIA Novosti)
