Hyundai plans 4th China assembly plant
Hyundai Motor Co.'s joint venture says it will accelerate plans to build a fourth assembly plant in China.
The joint venture, Beijing Hyundai Motor Co., did not disclose the location for the plant.
According to Chinese media, the Korean automaker has held talks with governments of the southwest China municipality of Chongqing and the central China city of Wuhan about the proposed production site.
Beijing Hyundai has three plants in Beijing that can produce up to one million vehicles a year.
While searching for the site for the plant, Beijing Hyundai said it also plans to raise the combined production capacity of its existing plants by 100,000 vehicles.
In January the company sold 115,198 vehicles, up 7 percent from a year earlier. In 2013, sales rose nearly 20 percent year-on-year to 1 million units.
Beijing Hyundai, established in 2002, is a 50-50 joint venture between Hyundai and Beijing Automotive Industry Group Corp.
According to Chinese media, the Korean automaker has held talks with governments of the southwest China municipality of Chongqing and the central China city of Wuhan about the proposed production site.
Beijing Hyundai has three plants in Beijing that can produce up to one million vehicles a year.
While searching for the site for the plant, Beijing Hyundai said it also plans to raise the combined production capacity of its existing plants by 100,000 vehicles.
In January the company sold 115,198 vehicles, up 7 percent from a year earlier. In 2013, sales rose nearly 20 percent year-on-year to 1 million units.
Beijing Hyundai, established in 2002, is a 50-50 joint venture between Hyundai and Beijing Automotive Industry Group Corp.
