Hyundai Goes Slow On Expansion

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South Korean carmaker Hyundai Motor is looking to borrow close to EUR250mn (US$331.3mn) from banks and other financial institutions to fund its new plant in Russia. The company was banking on strong demand in the emerging markets of Latin America and Eastern Europe to increase its overall sales during the slowdown in global demand, but the carmaker's Russian sales fell by 54% to 7,669 units in February. However, Hyundai has remained firm on its original target of selling about 137,000 cars in Russia in