Arirang News - Korea's largest automaker Hyundai Motor Company held a groundbreaking ceremony on Friday for a new plant in Brazil, its first facility in Latin America.
The factory is set to start making a new compact hatchback model starting in November 2012, bringing the number of Hyundai's overseas plants to seven.
Hyundai said the plant will help it compete in Brazil's auto market, which is expected to become the world's third largest by 2015, but is now dominated by American and European carmakers.
The factory in São Paolo, will cost 600 million US dollars and have an annual capacity of 150-thousand vehicles.
