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Repeating to correct U.S. dollar figure in 4th paragraph
SEOUL, Nov 1 Asia Pulse - A plant in Slovakia being built by Kia Motors Corp. (KSE:000270), South Korea's second-largest automaker, will produce models by its affiliate Hyundai Motor Co. (KSE:005380) as well, a Hyundai Motor official said Monday.
"In the initial stage, we will produce Kia models, but after about a year, we will try to have Hyundai models produced locally at the Slovakian plant," the official said, requesting anonymity. "Introduction of Hyundai models is important if we are to expand our production in Europe."
Kia broke ground on its first European plant in the Slovak city of Zilina last month with an aim to produce 300,000 vehicles annually. The firm plans to start running the facility by the end of 2006.
...Source: HighBeam Research, CORR - KIA'S SLOVAKIAN PLANT TO ALSO PRODUCE HYUNDAI MODELS.