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• New joint venture to boost Hyundai Motor’s production of commercial vehicles in Algeria from 2020
• Partnership to further cement Hyundai’s commercial vehicle dominance in Algeria
• Hyundai to build momentum for economic and industrial cooperation between Korea and Algeria
SEOUL, December 17, 2018 — Hyundai Motor Company and Global Group of Algeria today signed an agreement to jointly produce Hyundai’s commercial vehicles in Algeria as Hyundai continues to expand its foothold in commercial vehicle businesses around the world.
Under the agreement, Hyundai and Global Group will establish a new plant in the city of Batna. Algeria to produce its major commercial vehicle models, including the Xcient, Mighty, Solati and County.
The new plant is expected to assemble the aforementioned models from 2020 with an initial annual capacity of about 6,500 units. Hyundai will also strengthen its sales and customer services networks through the joint venture.
The signing ceremony was held today in Algiers, Algeria’s capital, with attendees including Algerian Prime Minister Ahmed Ouyahia, and South Korea's Prime Minister Nak-yon Lee, as the two nations agreed to strengthen economic and industrial cooperation.
“The joint venture will help Hyundai Motor to better serve Algerian customers with products and services that are specifically developed to meet their needs,” Don Ho Choi, Director and Head of Commercial Vehicle Export Division at Hyundai Motor said. “Through this partnership, Hyundai will build a momentum for further economic and industrial cooperation between Korea and Algeria”
Hyundai has been in collaboration with Global Group since 2016, which has been a crucial factor in expanding its presence in the Algerian commercial vehicle market in a very short period of time. Hyundai has been the top-selling commercial vehicle brand in the country since 2017 and expects to blossom to a total of about 6,000 units this year, claiming nearly half the market.
The commercial vehicle market in Algeria has grown rapidly in recent years with the country’s firm economic growth based on stable exports of oil and natural gas. Various developments and construction projects have also helped bolster demands for commercial vehicles.
Market experts forecast annual demand for commercial vehicles in Algeria to grow to as much as 22,000 units by 2025, nearly doubling from the 12,000 units produced this year. Last year’s industry demand was approximately 8,000 units and Hyundai accounted for about 46 percent of the market with sales amounting to approximately 3,700 units.
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Photo Caption:
(from left) Don Ho Choi, Director and Head of Commercial Vehicle Export Division at Hyundai Motor Company / Hacene Arbaoui, Chairman of Global Group
About Hyundai Motor Company
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services offered available in more than 200 countries. Employing more than 110,000 employees worldwide, Hyundai sold more than 4.5 million vehicles globally. Hyundai Motor continues to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO – the world’s first dedicated hydrogen-powered SUV.
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Contact:
Jin Cha
Global PR Team / Hyundai Motor
sjcar@hyundai.com
+82 2 3464 2128