Hyundai Motor vice chairman Kim Dong-Jin said Dec. 14 that his company is developing a low-end model tailored for Southeast Asia and Latin America.
Currently, Hyundai Motor produces three compact cars for overseas consumers -- Accent, Getz and Atoz (Santro).
It says it will use its plant in India, which produces the Santro with an engine capacity of less than 1,000 cc, as an outpost for exports to Europe, Latin America and the Middle East.
Hyundai Motor, together with its affiliate Kia Motors, is the world's seventh largest automaker and controls more than 70% of the South Korean car market.
Kim said Hyundai Motor would consider building car plants in Southeast Asia and Latin America as part of its drive to establish a global production network. By 2010, the company plans to expand its global production capacity to six million units, he said.
Copyright Agence France-Presse, 2006