Hyundai Motor said on Monday it had signed a deal with Chinese government officials to build a third plant in China with production capacity of 400,000 units per year.
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The new factory, whose construction will be completed in 2012, will increase Hyundai’s total production capacity to 1m units in China, the carmaker said in a statement cited by Reuters. Hyundai expects a combined 4m units of car sales by 2012.
Beijing Hyundai Motor, a joint venture between Hyundai Motor and Beijing Automotive Industry Holding Corp (BAIC), currently runs two plants in China.
