Hyundai 2001 Annual Report Download - page 22

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operations. In 2001, our fully-owned Indian
subsidiary saw cumulative output of
Santro/Atos and Accent pass the 200,000
mark while in China, we secured a $500
million credit line with the Bank of China
which will facilitate our expansion into the
strategically important Chinese market.
Plans are also afoot to invest in a U.S.
manufacturing facility.
We have also embarked on a more
aggressive advance into European markets
where we are preparing to invest in a large,
new R&D center. When completed, this
Frankfurt-based facility will enable us to
design cars which meet the tastes and
particular requirements of our European
customers. Our European model line-up was
expanded with the introduction of
Lavita/Matrix, a multi-purpose sedan which
provides us with a competitive offering in this
important European segment. We also
introduced two other new models, Terracan
and Tuscani/Coupe which have received
critical acclaim in the international motoring
press. The strategically important EF Sonata
and Grandeur XG are of great commercial
value to the company and excellent export
figures for these two models confirm our
predictions that Hyundai has an exceedingly
bright future as a maker of luxury sedans.
Our stellar export performance, strong
customer loyalty and enthusiastic product
reviews give us confidence that we will be
able to consolidate our position as one
of the world’s fastest-growing automakers.
21
2001 Annual ReportHyundai Motor Company