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.
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.
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.
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