Thursday, August 28, 2014

News: Inokom Assembles And Exports the Hyundai Elantra To Thailand


INOKOM Corporation Sdn Bhd (Inokom), which had sealed a deal with Hyundai Motor (Thailand) Co. Ltd. (HMC Thailand), will assemble and export 1,000 units of the Elantra, Hyundai’s popular C-segment passenger car to Thailand in the first year. The Elantra Nu1.8L is the only model that is being exported to Thailand. The number of units for export to Thailand is expected to increase in tandem with market demand as the Malaysian-assembled model is being priced cheaper due to the ASEAN Free Trade Area Agreement (AFTA).


Any deal that is the opposite of what usually happens is a good thing in the Malaysian car industry. Usually its Thailand that exports cars to Malaysia. This is a good thing in some ways.

PRESS RELEASE


INOKOM ASSEMBLES AND EXPORTS 

HYUNDAI ELANTRA TO THAILAND
Ribbon Cutting Ceremony - L-R Hideki Yanagisawa, Rizal Jailan, HK Kim

Kulim, 28 August 2014 – INOKOM Corporation Sdn Bhd (Inokom), which has

sealed a deal with Hyundai Motor (Thailand) Co. Ltd. (HMC Thailand), will assemble

and export 1,000 units of the Elantra, Hyundai’s popular C-segment passenger car to

Thailand in the first year.

Currently, the Elantra Nu1.8L is the only model that is being exported to Thailand.

HMC Thailand offers three versions of the Elantra 1.8L in Thailand namely the 1.8

GLS Navi, 1.8 GLE and 1.8 GL. The Elantra 1.8L is in fact the first mass-oriented

passenger car product to be offered to Thai consumers by Hyundai Motor (Thailand).

Inokom, a subsidiary of Sime Darby Motors, started assembling and exporting the

first 200 units of the Hyundai Elantra since June this year. It has just rolled out

another 200 units, which will be shipped to Thailand in early September. The number

of units for export to Thailand is expected to increase in tandem with market demand

as the Malaysian-assembled model is being priced cheaper due to the ASEAN Free

Trade Area Agreement (AFTA).

“With the introduction of this new Inokom-assembled Elantra in Thailand, we expect

its popularity to soar rapidly following the competitive pricing resulting from the

ASEAN Free Trade Agreement (AFTA) scheme,” said Mr Hideki Yanagisawa of

Hyundai Motor (Thailand). The introductory prices for the Elantra now start from

THB749,000 for the entry 1.8 GL automatic. The mid-range 1.8 GLE and the top-end

1.8 GLS Navi are introduced at THB819,000 and THB898,000 respectively

“Though this is our first collaboration with Inokom, we look forward to future

collaborations and possibly, for the other Hyundai models as well,” added Mr

According to Inokom’s Managing Director, En. Rizal Jailan, the collaboration with

Hyundai Motor (Thailand) could open up more export business opportunities for

Inokom, especially for locally assembled Hyundai models.

“We have proven our capabilities and we have vast experience in producing high

quality vehicles. We place emphasis on quality, productivity and efficiency and this

will ensure that we remain competitive in both the domestic and export markets. We

are confident that our track record and reputation in producing quality vehicles will

help the product’s success in Thailand.,” said En Rizal.

He added that Inokom was looking forward to a long-term working relationship with

HMC Thailand and also actively looking and evaluating other business opportunities

in the ASEAN market.

With the export initiative, Inokom hopes to further cement its support for the new

National Automotive Policy (NAP), by developing new vendors and increasing the

participation of existing local vendors.

Inokom’s vehicle assembly plant, which measures 100 acres of built-up area out of

200 acres of land, has an output capacity of 27,000 CKD (Complete Knock Down)

vehicles a year. Apart from the Elantra, Inokom also assembles the 7-seater Santa

Fe SUV and compact passenger car i10 for the domestic market that is distributed by

Hyundai-Sime Darby Motors.

About Inokom Corporation Sdn Bhd

Inokom is involved in the assembly and manufacturing of light commercial vehicles as well as

contract assembly. Its manufacturing facility is located in Padang Meha, Kulim, occupying 200

acres of freehold land. Production first commenced in August 1997.

The Company is owned by a consortium of corporate shareholders namely Sime Darby

Berhad (51%), Pesumal (M) Sdn Bhd (14%), Hyumal Motor Sdn Bhd (5%), Hyundai Motor

Company of South Korea (15%) and Berjaya Group Berhad (15%).

Inokom started with the Malaysian National Commercial Vehicles (“MNCV”) project which

produced the Permas and Lorimas models, following technology transfer from Renault and

Hyundai respectively.

Inokom started manufacturing Hyundai’s micro multi-functional vehicles (MFV) in September

2002. The agreement was finalised upon the signing of the Technical Licence Agreement in

March 2002. Since then, Inokom had produced various products at the Kulim assembly plant.

The models range from passenger to commercial vehicles and the marketing and distribution

of Inokom products is handled by Hyundai Sime Darby Motors Sdn Bhd.

About Hyundai Motor (Thailand) Co. Ltd.

Hyundai Motor (Thailand) is a subsidiary of Sojitz Corporation, one of Japan’s largest trading

conglomerates and distributor of Hyundai vehicles and other leading brands in several

country around the world. The company stated its business in Thailand in 2007 with a task

of reviving the Hyundai brand using quality strength, technology and value for money as

substantial market attraction. For almost 7 years, Hyundai Motor (Thailand) has delivered

over 22,000 vehicles to their proud owners with the best-selling model being the Starex,

Tucson, Sonata and Veloster.

Most of Hyundai vehicles marketed in Thailand are coming from Korea and Indonesia. The

Elantra from Malaysia is the first passenger car product to be imported from the ASEAN.

About Hyundai-Sime Darby Motors Sdn Bhd

Hyundai-Sime Darby Motors Sdn Bhd (HSDM) is a subsidiary of Sime Darby Motors. HSDM

is now the sole distributor and exclusive importer of all Hyundai completely built-up and

locally assembled vehicles and related spare parts. HSDM’s complete car line-up includes the

i10, i30, Elantra, Veloster, Tucson, Sonata, i40, Santa Fe, and Grand Starex Royale.

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