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Hyundai confirms i20 for Izmit plant
7 September 2009
Hyundai has confirmed that it will begin building the i20 model at its Izmit plant in Turkey in May 2010. The model is currently built in India, but the South Korean OEM has been looking to shift some production to Europe to reduce logistics costs and import duties. In addition to Turkey, plants in the Czech Republic and Slovakia were also under consideration.
Hyundai Motor India will continue to build three- and four-door versions of the i20 as well as right hand drive versions, while Izmit will build five-door versions for export to Europe. Hyundai is investing US$75m in the Turkish plant and adding 500 new jobs to build the i20, the third in its ‘i’ series of vehicles after the i30 and i10. Izmit currently builds the four-door Accent and the Matrix MPV. Total annual production capacity at the plant will rise to 100,000 units, with 80,000 devoted to the i20.
Sales of B-segment vehicles accounted for 20% of Turkey’s new car market in the first seven months of this year. Hyundai led the segment with an 18% market share.