Hyundai Motor plans to set up a hybrid fuel car R&D center by investing US$30 million in its Brazilian plant. According to industry sources on July 27, Hyundai Motor Brazil plans to set up the R&D center within its Piracicaba plant in the state of Sao Paulo.
Hyundai Motor Brazil plans to build the R&D center in collaboration with Brazil’s Trade and Investment Promotion Agency. Hyundai Motor aims to complete the construction by 2017. A hybrid fuel car refers to the vehicle which can use a mixture of bio ethanol and gasoline. At present, hybrid fuel cars account for about 90 percent of the Brazilian car market.
In Brazil, Hyundai Motor is now selling the HB20, a strategic compact car developed to meet the specific tastes of Brazilian consumers. The HB20 has a flex dual system which can use both bio fuel and gasoline together. A Hyundai Motor official said, “In Brazil, it is mandatory to sell hybrid fuel cars.”
In the meantime, Hyundai Motor sold 86,000 cars in Brazil in the first half of this year, down 2.3 percent year on year.
