Hyundai to invest Rs 50 cr on second plant to launch new Santro

New Delhi, Jun 14 (UNI) Hyundai Motor India plans to invest Rs 50 crore for setting up its second plant to launch its new model of popular Santro cars, company's MD H S Lheem today said.

The plant, which will manufacture three lakh units, will be completed by September, 2007, while the new model will be rolled out in October the same year, CNBC TV-18 quoted Mr Lheem as saying.

The cars in segment A will be priced at around Rs 4 lakh per unit.

Hyundai Motor India, a wholly owned subsidiary of Hyundai Motor Company, South Korea, had anounced 15 per cent domestic growth in the month of May, 2006.

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