Hyundai Motor reveals $410 mln project to produce new pickup truck in U.S.
SEOUL, AJU – In a strategy to release specialized models for each market, Hyundai Motor has revealed a $410 million project plan to attract new consumers in the United States and Canada market with Santa Cruz, a quality crossover that has the attributes of a pickup truck and sport utility vehicle.
Hyundai Motor's plant in Montgomery, Alabama, said in a statement that Santa Cruz, introduced four years ago as a concept model at the 2015 North American International Auto Show in Detroit, will hit the North American market from 2021.
For the production of Santa Cruz, Hyundai Motor's Montgomery plant will have a new manufacturing complex including facilities for stamping, welding and parts processing.
Consumer demand for pickup trucks is high in the U.S. and Canada. Santa Cruz targets consumers who want all the attributes of a compact utility vehicle but need the day-to-day versatility of an open bed, Hyundai said, adding it would create a whole new segment that “successfully combines capability and utility to meet the unspoken needs of a new generation of buyers, especially millennials.”