Hyundai’s engine production plant in Piracicaba, Brazil will begin operations in 2022, according to Ricardo Martins, vice president, Hyundai.
This new facility will aid Hyundai to manufacture its engines in Brazil. At present, the carmaker assembles them after receiving engine kits that are imported into the country.
The new plant is part of the South Korean manufacturer’s expansion plans in Piracicaba, where it began assembling its Creta Nueva Generación model, which will be launched by the end of the year.
Late last year, the city government announced the expansion of the Hyundai plant, with an investment of BRL350mn ($67.2mn).
Martins did not confirm the total amount of the investment since the addition of the new facilities will include other dependencies that could increase the initial amount.
($1=BRL5.20)