Seoul: Hyundai Motor on Tuesday re-launched its 11 years old ‘Accent’. The company said in a statement that it aimed to sell about 5,00,000 units of the revamped sedan globally from 2011 annually. The company Tuesday started the sale of the Accent car in dealerships across South Korea.

Hyundai said in a statement it has invested 200 billion won (180 million dollars) over the past five years to develop the sedan, which will replace the company’s Verna sub-compact car. With the return of the Accent, the Verna model will be no longer available in domestic and global dealerships except for China.

As per the statement, the company would start making the fuel-efficient sub-compact new Accent in Russia and India next year. The company has its domestic plant at Ulsan and China that are already in production.

Company president Yang Seung-Suk told reporters, “Through aggressive marketing, we will reignite potential demand for fuel-efficient and high-performance models, particularly among young generations who can afford entry-level cars.”

Hyundai Motor said it aims to sell 20,000 units of the Accent sedan next year in South Korea. Thereafter the firm would start exporting it from its South Korean plant to the United States next March and to other markets in the first half of next year. The Accent cars will also be made at the carmaker’s factories in China, Russia and India will mainly cater to local demand.

The new Accent cars will have a fuel efficiency of 16.7 kilometers per liter, the company said. According to the analysts, Hyundai also plans to roll out other new models this year including new Grandeur sedan in South Korea and new Elantra compact and Equus sedan in the U.S.