Hyundai building 400,000-capacity plant in Beijing
- Source: Gasgoo
- [17:14 November 25 2010]
- Comments
Beijing Hyundai Motor, a joint venture between Hyundai Motor and Beijing Automotive Industry Holding Corp (BAIC), will hold a groundbreaking ceremony for its third plant in Beijing's Shunyi District on November 28.
The JV's two existing plants are located in the Shunyi District too, each capable of building 300,000 vehicles per year. Its third plant with an annual production capacity of 400,000 units will raise its current capacity to 1 million units after going into operation.
Beijing Hyundai will make four models including the Hyundai i30, ix35, Verna and the YF (new Sonata) at the new plant. The Hyundai Elantra, Tuscon, Sonata MoInca and Accent are currently assembled at its first plant, while the Hyundai Elantra Yuedong and the Hyundai Lingxiang cars are now manufactured at its second plant, according to sources.
The company will launch 12 models in the Chinese market during the 2011-2015 period, bringing the total to roughly 20 from the current eight, Li Feng said ealier. That means the joint venture will have to build its fourth plant in China during 2011-2015, sources said.
The JV's general manager Lu Zaiwan, deputy general manager Li Feng and others will attend the event on Sunday. Moreover, english.chosun.com said Hyundai chairman Chung Mong-koo and local officials including Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference will also be present for the ceremony.
In the first ten months this year, Beijing Hyundai recorded sales of 569,900 units, compared to its full-year sales target of 670,000 units set at the beginning of 2010.
