Hyundai Motor to export car kits to Thailand
SEOUL, June 27 (Reuters) - Hyundai Motor Co. , South Korea’s top automaker, said on Wednesday it plans to export vehicle kits to Thailand later this year in a bid to make inroads into the Southeast Asian country.
Hyundai said in a statement it would deliver knock-down kit forms of its Sonata sedan to Hyundai Motor Thailand (HMT), a 70-30 joint venture between Japan’s Shojitz Corp. and a Thai company. Hyundai does not have a stake in the joint venture.
HMT will import partially completed car kits for the Sonata but will have Thailand’s Thonburi Automotive assemble the kits, as HMT does not have production facilities, Hyundai said.
Thonburi Automotive has a capacity of 2,000 units per year, Hyundai said.
A Hyundai spokesman said it has not exported its vehicles or kits to Thailand since 1998.
Shares in Hyundai rose 1.77 percent to 74,600 won by 0419 GMT, compared to a 1.23 percent fall in the broader market .
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