TU-TESL

• 22

Recently, according to foreign media reports, the car will spend $410 million to expand the Montgomery plant in Alabama, USA, to put into production the sports multi-functional pickup Santa Cruz, which was unveiled at the North American auto show in 2015, but it has been difficult to find a suitable factory to manufacture, so it is delayed to go on the market. Hyundai hopes to push the Santa Cruz model into production in 2021 when the plant expansion is completed. According to "Santa Cruz", Montgomery modern plant started production in 2005, with 3000 employees, mainly producing Santa Fe, Sonata and Elantra. After the expansion, about 1200 new jobs will be added (including the plant and upstream and downstream supply chain). The U.S. is the largest overseas market of Hyundai. According to the latest financial information released by Hyundai, Hyundai's sales volume in North America in the third quarter of this year was 228000, up 7.3% year-on-year, but this failed to offset the decline in markets such as China and India. Data shows that in the third quarter of this year, Hyundai's sales volume in China was 171000, down 5.4% from the same period last year. In order to further develop the overseas market, Hyundai Automobile once said that on the one hand, it will continue to work to improve the sales structure of its products, incline its resources to the models with high profitability, such as new energy vehicles and high-end vehicles, on the other hand, in the overseas market, it will further improve the sales situation and increase its profits by mainly launching SUV products and adjusting production capacity. The expansion of the factory in the United States, the construction of new models, or an important step in the adjustment.