Czech Republic gears up for possible Hyundai car plant

The chief executive of South Korean car-maker Hyundai, Chung Mong-Koo, toured a site in the Czech Republic on Thursday, regional governor Evzen Tosenovsky said. The Czech news agency CTK, citing the Korea Economic Daily, reported that Hyundai planned to invest about 1.9 billion dollars in the Czech Republic, building a plant with annual output of 300,000 cars. Czech officials have declined to comment on the report. Quoting an unnamed regional council source, CTK said that two sites at industrial zones in North Moravia were being considered. If Hyundai decide to locate a new plant in the Czech Republic it would be the country's third car plant after Skoda and TPCA, the joint venture between Toyota and PSA Peugeot Citroen which launched production this year.