(Ecofin Agency) - Algeria has released its first locally made Hyundai car on October 29, three days ahead of initial schedule, announced Tahkout Manufacturing Company, a joint venture of Algerian firm Tahkout and South Korean car maker Hyundai.

Produced at the Tiaret factory (located about 300km west of Algiers), the SUV Hyundai Tucson will be sold with a five year guarantee and at a cost 30-35% less than models presently sold.

Built over 24 hectares, the Tiaret factory cost $250 million. It will initially produce no less than 30,000 cars each year and progressively increase this capacity to 200,000 units each year, over five years.

Besides the Tucson, Tahkout Manufacturing Company plans to produce five other models, namely: I10 grand (4 and 5 doors), Accent RB (Sedan and Hatchback), recent Elantra berline, and new SUVs Creta and Santa Fe.