After 26 years of partnership, Caoa and Hyundai no longer share the same vehicle factory. The end of the (often troubled) marriage between the Brazilian group and the South Korean brand occurs just over a year after the announcement of changes in the terms of the alliance. In February 2024, the two companies reported that they would start an unprecedented synergy. With this, the expectation was that the CAOA factory in Anápolis (GO) would receive tools and investments to produce new Hyundai cars. However, this never occurred.
The end of the Hyundai vehicle production for CAOA was revealed by Self -esportand confirmed by Car newspaper with people alongside the subject. However, neither companies officially charged the information. Sought by the report, Hyundai said that “according to its global policies of corporate governance and confidentiality, it does not comment on trade or production strategies in the markets in which it is present”
Similarly, the Caoa dodged the theme. Also in a statement, he said that he maintains “a policy of judicial secrecy that does not allow us to comment on business plans, future launches, or subsequent projects” ”
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The production of SUV Tucson and the Light HR truck in Anápolis was closed in April – when the collective holidays of the workers of the Caoa factory began. After just over 40 days, the plant activities resumed, but only Caoa Chery’s cars were made again (Tiggo 5x, Tiggo 7 and Tiggo 8) SUVs. It is worth mentioning that the Hyundai national car distribution agreement remains standing by the Caoa dealers network.
Justice
Despite a partnership of almost three decades, the relationship between Caoa and Hyundai was not exactly a sea of roses. In 2018, the Brazilian group started a court dispute with the South Korean brand. Hyundai intended to take over all operations linked to the company in the country. This included the importation of cars, then under the responsibility of CAOA. In addition, the production of Tucson and HR in Anápolis was the prerogative of the Brazilian company.
The judgment of the case, in charge of an arbitration court in Germany, was completed in 2021 in favor of CAOA. However, although the representation contract was renewed, the imbroglio created an impasse between the two companies. That is, Hyundai did not release the production of new cars in Brazil. In turn, CAOA prevented its partner from importing success models in other markets, such as Ioniq 5N and Palisade, for example.
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A new step was even taken last year: Hyundai would be responsible for the import and distribution of its vehicles in the country. And CAOA would produce in Goiás new models of Hyundai with the highest added value. At the time, CAOA President Carlos Alberto de Oliveira Andrade Filho said the dealers network would be unified. Hyundai’s CEO to the central and southern Americas, Airton Cousseau, who was with Andrade Filho, said the change would be positive not only for companies, but also to the Brazilian consumer.
