South Korean car parts maker Hyundai Mobis is to build a factory in the Czech Republic.<br /><br />The plant, which will cost 95.65 million euros is due to open in 2017. <br /><br />It will turn out lamps for up to 750,000 vehicles each year – headlights and tail light assemblies. <br /><br />The agreement was signed between the car company and the Czech government, which has offered a number of incentives to Hyundai, including tax breaks. <br /><br />There is already a Hyundai car-building plant in the same area, at Nošovice, which opened in late 2008. <br /><br />After the signing ceremony, Czech Prime Minister Bohuslav Sobotka pointed out: “The Moravian-Silesian region has had structural problems and high unemployment for a long time with currently 80,000 people out of work there. <br /><br />He added: “I trust some of them will get a new chance of employment from Hyundai Mobis.”<br /><br />The Czech Republic was the first place Hyundai, and its sister company Kia, set up production facilities in Europe <br /><br />Chung Myung-Chul, the head of Hyundai Mobis, said “This factory will be able to quickly and efficiently supply Hyundai and Kia plants right across the whole of Europe.”<br /><br />With this agreement Hyundai Mobis becomes the latest Korean car parts supplier to invest in the Czech Republic, which is recovering from an 18-month recession that ended last year.<br /><br />South Korea’s Nexen last month announced plans to build a tyre production facility there. <br /><br />Between them the Hyundai Mobis and Nexen plants will create 1,900 jobs.
