Hyundai will build a plant in Chongqing, report says
Beijing Hyundai Motor Co. will start constructing a plant in the southwest China city of Chongqing later this year, according to Chinese media.
At an industry forum last week, city mayor Huang Qifan confirmed that Beijing Hyundai has decided to build the plant, reported Netease, a Chinese Web site. Construction will begin this year, Huang said.
The plant would be Beijing Hyundai's fourth assembly plant in China.
Further details weren't available. But in May, Reuters said Hyundai was considering a new plant with an annual capacity of 300,000 units. At the time, Reuters cited Hyundai Vice Chairman Hsueh Yung-hsing.
Beijing Hyundai is a 50-50 joint venture between Hyundai and Beijing Automotive Industry Group Corp. The partnership now has three plants in Beijing that can produce 1 million vehicles a year.
Last year, Hyundai sales in China rose 16 percent to 895,526 units, according to LMC Automotive.
Hyundai affiliate Kia Motors also has a joint venture in China. Kia's partnership has two Chinese assembly plants and is building a third plant in the east China city of Yancheng.
Last year, Kia sold 506,541 vehicles in China, up 10 percent.
The plant would be Beijing Hyundai's fourth assembly plant in China.
Further details weren't available. But in May, Reuters said Hyundai was considering a new plant with an annual capacity of 300,000 units. At the time, Reuters cited Hyundai Vice Chairman Hsueh Yung-hsing.
Beijing Hyundai is a 50-50 joint venture between Hyundai and Beijing Automotive Industry Group Corp. The partnership now has three plants in Beijing that can produce 1 million vehicles a year.
Last year, Hyundai sales in China rose 16 percent to 895,526 units, according to LMC Automotive.
Hyundai affiliate Kia Motors also has a joint venture in China. Kia's partnership has two Chinese assembly plants and is building a third plant in the east China city of Yancheng.
Last year, Kia sold 506,541 vehicles in China, up 10 percent.
