171 Million Euro Additional Investment Plan for Hyundai i20

171 Million Euro Additional Investment Plan for Hyundai i20 Plan for an additional investment of 171 million euro for the Hyundai i20. Making a statement on the subject, Ali Kibar, Chairman of the Board of Hyundai Assan, stated that the i20 and i10 models are very popular in Europe. Ali Kibar, Chairman of the Executive Board of Hyundai Assan, made statements regarding the new investment plan. Speaking to Bloomberg HT, Kibar stated that they have created an additional investment plan of 171 million Euros for the Hyundai i20 model. Making an evaluation regarding the investments, Kibar said, “We received a lot of appreciation for our i20 and i10 models from the European market. We are planning to increase our own production and export capability by at least 20 percent or more. At the beginning of this year, we commissioned our i10 product with an investment of 110 million euros, we are investing 171 million euros for the i20. We will carry our lower capacity utilization to higher levels next year." Pointing out that the effects of the first wave in the coronavirus epidemic slowed down the opening of the European market, there will be a third very rapid recovery, Kibar said, “It is possible to say that there will be improvements in the market with the vaccine news in the coming years, but with the total market volume this year, the market volume will be 10-15 percent more. It is possible to predict the level to decrease."