Hyundai Mobis, the car parts unit of South Korea’s top automaker, has completed a plant in Beijing capable of making parts for 300,000 cars a year, Reuters reported.
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Hyundai Mobis also reportedly said in a filing to the Korea Stock Exchange that it expected to record 220 billion won ($US186.7 million) of sales from the plant next year.
Parts would be supplied to Hyundai Beijing Automotive Corp, a 50-50 joint venture between Hyundai Motor and Beijing Automotive Industry Holdings, Reuters said, noting that Hyundai Mobis has five other factories in China and is targeting $660 million worth of sales next year, more than double this year’s forecast of $325 million.
