Hyundai to invest $150 million to expand its North American headquarters
By Andrew, 16 Sep, 2010. 0 Comments
2011 Hyundai Equus
Hyundai Motor Co. will be investing about $150 million to expand its North American headquarters in California. In the past decade, Hyundai’s sales in the US have more than doubled.
Hyundai plans to build a structure in Fountain Valley on the site of its current complex. According to a company statement, the number of employees that can be housed in this office can go up to about 1,400 from the current 700.
In this statement, John Krafcik, CEO of Hyundai Motor America, said that the new building will give the company the flexibility to “grow with [its] brand, reflect [its] modern design sensibility, and showcase [its] commitment to sustainability.” Hyundai also said that with this investment, 1,500 new construction jobs will be created. It will also result to Orange County gaining $273 million in total economic output.
In a separate release, California Gov. Arnold Schwarzenegger also talked about the planned expansion. Schwarzenegger met with Hyundai Motor Chairman Chung Mong Koo in Seoul earlier this week, as part of an Asian tour. According to the governor’s statement, California exports more goods to South Korea than any other US state, accounting for about a third of the total. In the past 15 years, Hyundai's US sales have gone up in all but two of those years. Last year, Hyundai sold 435,064 vehicles, a considerable increase from 164,190 in 1999.
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