Lodi Valley News.com

Complete News World

Koa wins dispute with Hyundai, retains representation in Brazil

Koa wins dispute with Hyundai, retains representation in Brazil

Decision of the Arbitration Court in Frankfurt, Germany, upholding group law Showa To produce and import vehicles exclusively from Hyundai For another 10 years in Brazil. Since 2018, the companies have been in a legal dispute over maintaining the partnership that has been in effect since 2008. The contract lasted 10 years and will be automatically renewed for another 10 years, as stipulated in a clause, but Hyundai decided on a respite.

Caoa, then, sued to secure the renewal, Claims full compliance with the contract and Appealing the decision of the South Korean giant unilaterally. for at least 3 years, The company was maintaining representation through restraining orders. Now, the court’s decision ends the dispute and ensures stability for Caoa to make investments (including launching new models, such as A new generation of Tucson).

Currently, the company officially imports Azera and Santa Fe models, as well as domestically produces ix35 and New Tucson SUVs, HR and HD78 trucks at the Anápolis (GO) plant. Years ago, other important models were part of the portfolio, such as the i30, Elantra, Sonata and Controversial Veloster. Caoa is currently the largest Hyundai dealership in Brazil.

Prior to the current decade, which spans since 2008, the company has had relations with South Koreans since 1999. Since then, more than one million Hyundai vehicles have been sold in Brazil in more than 20 years of joint operation. In addition, Caoa maintains partnerships with other brands, such as Chinese Shery (including vehicle production also in Annapolis) and stronghold (Traders and distributors).

See also  Check if your score has gone up with the update

Listen to the Motor1.com podcast:

Follow Motor1.com Brasil on Facebook

Follow Motor1.com Brasil on Instagram