Hyundai plans 2 more assembly plants in China, report says
Hyundai Motor Co. plans to remodel a car assembly plant belonging to a Chinese partner, reported the Korea Economic Daily -- a move that could pave the way for the South Korean automaker to build a separate factory in western China.
Hyundai, which has three factories in eastern China, has said it is keen to build a fourth plant in China's southwestern city of Chongqing that would tap growing demand in western China.
But the automaker has yet to gain the approval of China's central government, with South Korean media saying that it is under pressure to build a plant in the northeastern province of Hebei.
Hyundai now plans to remodel a Beijing plant owned by its Chinese partner, Beijing Automotive Industry Holding Corp., in addition to pursuing its plans with its partner for a factory in Chongqing, said the Korea Economic Daily, citing the automaker and the South Korean government.
The Beijing factory would be Hyundai's fifth assembly plant in China.
The plants in Beijing and Chongqing are set to come online in 2016, the newspaper reported.
A Hyundai Motor spokesman was not immediately available for comment. A spokesman for Korea's industry ministry declined to comment.
But the automaker has yet to gain the approval of China's central government, with South Korean media saying that it is under pressure to build a plant in the northeastern province of Hebei.
Hyundai now plans to remodel a Beijing plant owned by its Chinese partner, Beijing Automotive Industry Holding Corp., in addition to pursuing its plans with its partner for a factory in Chongqing, said the Korea Economic Daily, citing the automaker and the South Korean government.
The Beijing factory would be Hyundai's fifth assembly plant in China.
The plants in Beijing and Chongqing are set to come online in 2016, the newspaper reported.
A Hyundai Motor spokesman was not immediately available for comment. A spokesman for Korea's industry ministry declined to comment.
