BAKU, Azerbaijan, April 14. Kazakhstan’s “Astana Motors” will launch the production of car seats for the Korean “Hyundai” car giant, starting in 2024, Trend reports, citing Astana Motors.
The agreement on the production was reached between the Kazakh company and Youngsan Glonet Corp. Ltd., which provided the rights for the production in Kazakhstan.
Additionally, the Kazakh company is expected to sign an agreement with Motrex Co Ltd., which will enable Astana Motors to manufacture multimedia systems in Kazakhstan.
Beknur Nesipbayev, the CEO of “Astana Motors”, said that currently, the company commences construction of the plant, which will be used for the manufacturing of seats and multimedia systems. The plant is being constructed on a 10-hectare area and the overall cost of the project is expected to be around 6.8 billion Kazakh tenge (around $15 million).
Some 4.3 billion Kazakh tenge ($9.49 million) will be used to set up the area for seat manufacturing, while 0.9 billion Kazakh tenge ($1.98 million) will be used to launch the multimedia system production area.
Hyundai has been a household name in Kazakhstan, particularly due to the fact that they are produced domestically. Approximately 45,000 cars are manufactured annually by Hyundai employees in Kazakhstan.