Hyundai Motor is reportedly planning to build a new factory in the U.S. to meet the demand for SUVs.<br />The company hasn't confirmed it but industry sources say.... the plant could have the capacity to produce up to 300-thousand SUVs a year.<br />Kim Min-ji has the details. <br />Hyundai Motor will reportedly build a new production plant in the United States as cheap gas prices coupled with the economic recovery is driving demand for SUVs in the U.S. market.<br />Total SUV sales in the U.S. spiked 15 percent in the first two months of the year,... compared to the same period last year.<br />Hyundai's popular Santa Fe model saw a 20 percent hike in sales to over 16-thousand units during the same period.<br />Industry sources tell Korea-based Yonhap News Agency that Hyundai has finalized plans to build a new plant solely dedicated to its SUV lineup this year... with an eye on starting production in 2017.<br />Hyundai currently has just one plant in the U.S.... and that only produces sedans.<br />The sources say the plant, located near Hyundai's current Alabama plant, will have an annual capacity of 300-thousand units.<br />With two more plants planned in China and another currently under construction in Mexico -- all with the same capacity... Hyundai and Kia Motors' combined total production output should top nine million units by 2018... with overseas production accounting for 60-percent from the current 55-percent.<br />Hyundai, however, has declined to officially confirm the report... saying nothing has been decided yet.<br />Such a move could be seen as going against the Korean government's push to beef up facilities investment at home - to boost domestic sentiment and job growth.<br />Kim Min-ji, Arirang News.
