One of Hyundai’s top executives revealed to Antara News reporters that the low-cost model is in development and is aimed at rivals such as Renault’s Logan. “Development is under way to produce an ultra-cheap car,” said Hyundai Vice Chairman Kim Dong-jin at a recent event in Seoul. “Foreign rivals such as Renault are developing a low-cost model priced below US$10,000?, referring to the Logan, a car Hyundai’s hopes to beat.
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