Hyundai is reportedly planning to add two vehicle manufacturing plants in China to lift its annual capacity there to around 1.8m vehicles.
The China Daily reported that two new plants will be specialising in environmentally friendly vehicles aimed at growing segments of the Chinese vehicle market.
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Hyundai has completed its latest Chinese plant, its fourth, in Cangzhou, Hebei province, and will open another one in Chongqing next year. The two new plants will each have the capacity to make 300,000 units a year, the report said.
Hyundai has fallen back in the Chinese market in recent months as a diplomatic dispute between China and South Korea has swayed Chinese consumers away from Korean branded products and towards domestic brands.
"We will accelerate our efforts to achieve a market share of more than 10 percent again with the opening of Cangzhou factory," Hyundai said. It didn't disclose how much it's investing in the new plants.
When Kia's 900,000 capacity is added, Hyundai-Kia will have 2.7m units of annual vehicle making capacity in China in the medium-term.
According to the China Daily, Hyundai said it aims to produce nine green vehicles in China by 2020.
Hyundai is also planning to boost the number of dealers in China from 1,000 to 1,400 by 2020.
