Hyundai is considering building a fourth site in China

Article by Christian A., on March 27, 2014

Hyundai Motor Co. mulls building a fourth vehicle site in China to cater to growing demand in the country. Chairman Chung Mong-koo is set to sign an agreement Thursday with the government of Chongqing to review the possibility of locating a site in the city, Hyundai said in a statement. Hyundai is experiencing tougher rivalry in China as Toyota Motor Corp. and Nissan Motor Corp. have already managed to recover from Japanese product boycotts in 2012.

The South Korean carmaker is one of the companies seeking to produce and sell more vehicles in China. Lee Sang Hyun, an analyst at NH Investment & Securities Co. remarked that for Hyundai to increase or at least keep its market share in China, a decision to build a new site in country “would have been inevitable” for the carmaker. He quipped that while China's vehicle market growth has slowed, it remains a rapidly growing market.

Once built, the fourth site would be able to build 300,000 cars annually, increasing Hyundai's output in China to up to 1.51 million vehicles, according to the statement. Hyundai operates three vehicle sites in Beijing while its commercial vehicle business is currently building a new plant in Sichuan.

The South Korean carmaker saw its annual sales in China topped 1 million vehicles in 2013, according to data compiled by Bloomberg. It sold 640,698 units in South Korea and 720,783 in the US in the period. It also sold 422,930 vehicles in 2013 in in EU and EFTA markets.

Topics: hyundai, china, factory

If you liked the article, share on:

Comments

Recommended

The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
In an interview involving Lamborghini CEO Stefano Domenicali and Automotive News, the topic about the Urus was thoroughly discussed. This super SUV is scheduled to make its debut later this...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries