Hyundai Assan Otomotiv

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Hyundai Assan Otomotiv San ve Tic.
Type Joint-stock company
Industry Automotive
Founded 1994
Headquarters Istanbul, Turkey
Products Automobiles, commercial vehicles
Production output 90,231 vehicles (2011)
Revenue US$ 961.9 million (2011)
Owners Hyundai Motor Company (70%)
Kibar Holding (30%)
Employees 1,679 (2011)
Website hyundai.com.tr

The Hyundai Assan Otomotiv San ve Tic. A.Ş. is an automotive company based in Kozyatagi, Istanbul, Turkey,[1] established at the end of 1994,[2] as a joint venture between the Hyundai Motor Company of South Korea and the Kibar Holding of Turkey. It is operating a manufacturing plant located in İzmit, Turkey that was opened in September 1997 and produces Hyundai automobiles and commercial vehicles.[3]

Overview[edit]

The company was established at the end of 1994, as a 50–50% joint venture between the South Korean manufacturer and the Kibar Holding of Turkey, with the goal of opening a new manufacturing facility in İzmit, after the Hyundai brand's introduction to the country in 1990. The ground breaking ceremony of the factory was held on 25 September 1995. It was completed and started mass production in July 1997, with the official opening ceremony being held on 20 September 1997.[4]

The factory covers 108,000 m2 of the 233,000 m2 total area and has an annual production capacity of 125,000 units, the company being the fifth largest automaker in Turkey. The total first stage investment was US$ 180,000,000. The first two models produced were the Hyundai Accent and the Grace, the Starex being added to the line-up in 2002, the Matrix in 2007, and the i20 in 2010.[5] A total of over 700,000 vehicles were produced at the factory since opening.[6]

Products[edit]

References[edit]

  1. ^ "Osd Üyeleri". Otomotiv Sanayii Derneği 2011. 11 November 2011. p. 7. Retrieved 14 April 2013. 
  2. ^ "Ufuk Sandık: Hyundai yenilenen Accent'i Türkiye'de üretmeye başladı". Hurriyet. 14 February 2000. Retrieved 14 April 2013. 
  3. ^ "Hyundai Assan". Otomotiv Sanayii Derneği. Retrieved 14 April 2013. 
  4. ^ "Hyundai Assan Otomotiv Sanayi ve Ticaret A.Ş.". Kibar Holding. Retrieved 14 April 2013. 
  5. ^ "Hyundai Türkiye fabrikasi 500 bininci aracini üretti". Hyundai Assan Otomotiv. 21 April 2009. Retrieved 14 April 2013. 
  6. ^ "About Us – Hyundai Assan". Hyundai Assan Otomotiv. Retrieved 18 April 2013. 

External links[edit]