Finance

Algeria: Hyundai’s assembly unit releases first car

Friday, 10 June 2016 18:43

The assembly unit that Hyundai installed in Batna, in the North-Eastern region of Algeria, in collaboration with Algerian firm Global Motors industries has, on June 7, just released its first car.

“The plant which covers 55,900 m2 and employs 450 people goes beyond a mere partnership as the two firms intend to make it a major industrial hub,” said the South Korea’s ambassador to Algeria, Park Sang-jin, during a ceremony organized for the occasion.

According to executives, the plant will increase its yearly output from 5,000 cars (buses, trucks, tractors…) presently to 22,000 units by 2020.

Initially, this unit will just satisfy local demand but will later, start exporting part of its output to neighboring countries starting from 2018.

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