Korean auto maker’s US plans

Posted on July 4th, 2009 by Robert Adams | Posted under: Other makes

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While US auto makers are biting the dust and the industry is in turmoil, a Korean auto maker has plans to enter the US market by starting manufacturing units. The south Korean company, CT&T Co. Ltd., plans to manufacture low speed electric vehicles in the US.

The company was founded in 2002 by a former Hyundai executive, Young Gi Lee. It is planning to establish its facilities in South Carolina, North Carolina, Georgia, Alabama or California. It hopes to employ 2,600 workers by 2014. As the car will be electric, it will have green credentials; plus the company will increase employment opportunities.

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This low speed electric vehicle is meant for cities, gated communities, commercial and government fleets. The c-Zone utility vehicle will be priced between $8,000 and $ 16,000. The company is also planning to manufacture batteries for electric and hybrid vehicles and sell them to other manufacturers.