Hyundai Motor Company (HMC) is set to open its first plant in Malaysia next year with an investment valued at RM2.16 billion, Bernama reports.
Investment, trade and industry minister Tengku Datuk Seri Zafrul Abdul Aziz said it will be the South Korean carmaker’s largest investment in Malaysia and will provide many job opportunities.
“This is a huge investment. A total of seven car models will be produced within five years. The plant will be opened in Kulim (Kedah) next year,” he told Malaysian media covering prime minister Datuk Seri Anwar Ibrahim‘s official visit to South Korea here today.
Anwar and his delegation arrived in Seoul last night for a three-day official visit. He had a closed-door meeting today with HMC.
Kulim is also the location of contract assembler Inokom’s plant, which has been assembling Hyundai vehicles since the early-2000s up to the facelifted fourth-gen Santa Fe, which is now the only locally-assembled (CKD) Hyundai vehicle in the current line-up.
More questions than answers so far, but we’ll report on further developments as they come.
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