South Korea’s Hyundai Motor Co. has a chance of coming up with its third North American plant in Mexico. It is the largest automaker with operations in Orange County. Santa Monica auto Web site Edmunds.com Inc. reported that there is a great probability of the Mexican gulf state of Veracruz being the site for the new plant. There is a chance of incorporating 150,000 additional vehicles to the automaker’s North American output, bringing it closer to Japan’s strength in the market of North America.

The automotive site reported that the negotiation process between officials from Promexico, a government agency promoting exports and foreign investments and Hyundai are in progress. The new plant is expected to produce Kia Motors America Inc.’s Rio and the new compact Hyundai Accent in the year 2013. By the year 2013, the overall expected estimate of the Mexican plant in addition to the existing Hyundai plant in Montgomery, Ala., and Kia’s plant in West Point, GA, altogether would be more than 800,000 vehicles.

Kia’s Georgia plant moved forward with its first car rolling out this week and is expected to produce 350,000 vehicles every year. The list includes the year 2011 Kia Sorento, Kia Forte along with the year 2013 sports utility vehicle, Hyundai Santa Fe. Kia has employed 2,500 people and invested an amount of about $1 billion in this plant.

Hyundai saw a profit of 49% by selling 31,005 cars last month in comparison to 20,820 vehicles that were sold at the same time last year. Based on the reports, the automaker is experiencing a sales growth of 4% and has sold 373,222 vehicles in comparison to the 358,484 vehicles sold a year ago.

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