Beijing Hyundai's sales rise 23 percent in 2010
Beijing Hyundai Motor Co. sold 703,008 vehicles in China last year, up nearly 23 percent from a year earlier.
The company -- a 50:50 joint venture between Hyundai Motor Co. and Beijing Automotive Group -- says the Hyundai Elantra and its upscale variant, the Elantra Yudong, generated one-third of its sales in 2010.
Beijing Hyundai also builds the Sonata, Monica Mingyu, i30, Tucson, ix35, Accent and Verna.
The partnership has two assembly plants in suburban Beijing with a combined annual production capacity of 600,000 units. A third plant is under construction. It will launch production in 2012 with an initial annual output of 300,000 units.
Hyundai also is preparing to enter China's commercial truck market. Hyundai plans to form a 500 billion won (2.9 billion yuan) venture with Ziyang Nanjun Automobile Co. to produce commercial vehicles.
The venture will take over Ziyang's commercial-vehicle operation, which has an annual capacity of 120,000 units. The company will initially target sales of 90,000 heavy trucks and buses in China, rising to 300,000 in 2015.
