Hyundai Motor Co (005380.KS) plans to move more than a third of its i20 car production in India to Europe by the middle of 2010, the managing director of its Indian unit said on Friday.
H.S. Lheem told reporters they would shift production of about 70,000 cars to Europe to get tax benefits. The company currently has an annual capacity to make 200,000 i20 cars in India.
Lheem said they expected the company's car sales in India to increase to 580,000 in the year to December from 490,000 last year. (Reporting by C.J. Kuncheria; Editing by John Mair)