SEOUL, South Korea (AP) — South Korean auto parts maker Hyundai Mobis Co. said Thursday it will invest 71.6 billion won (US$78.1 million) in a plant in the United States to supply parts for vehicles to be made by Kia Motors Corp.
''Hyundai Mobis will supply 300,000 units a year of front-end, chassis and cockpit modules to Kia's automobile plant,'' the company said in a regulatory filing.
Kia Motors, which like Mobis is an affiliate of Hyundai Motor Co., is building a US$1 billion (€702.5 million) plant in West Point, Georgia. The factory will have production capacity of 300,000 vehicles a year. Kia has said it will begin production in late 2009.
Hyundai Mobis already has a plant in nearby Montgomery, Alabama, which supplies auto parts to a Hyundai Motor factory there.