Hyundai to invest 1 billion euro in Nosovice plant

South Korean car giant Hyundai is going to invest up to 1 billion euro in a new factory in the village of Nosovice in North Moravia, the vice-president of Hyundai Motor Company In-Seo Kim told reporters on Monday. The car factory, which will be Hyundai's first European plant, is expected to start production in 2008, with 3,000 direct and 10,000 indirect jobs and 300,000 cars a year rolling off the production lines.