New Hyundai Motors Car Model

CNBC-TV18 reports that Hyundai Motors is spending 500 million dollars to develop another small car model. It is investing USD 500 million to develop a brand new plant. That unit will roll out this fresh model sometime next year, code named PA, this car model is seen as a twin of Hyundai’s Santro.

The PA 2006 new car model will have a 1.2 litre engine and a price tag of about Rs 4 lakh. Hyundai expects the new car to help boost its exports to half its total car output from a third at the moment.