Hyundai Motor making a decision on a third factory in China, following a local internet report, citing an unnamed industry source, that said it was talking with Chinese companies about the plant.
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“Nothing has been decided,” the company told Reuters without elaborating.
EDaily had said Hyundai was also considering buying a Chinese carmaker as the Chinese government hoped it would make an acquisition amid a shake-up in China’s auto industry.
“Hyundai will build its third factory with an initial annual capacity of 200,000 vehicles, and later expand the capacity to 300,000 vehicles,” EDaily quoted the source as saying.
The company was reviewing a plan to start construction next year, with completion scheduled for 2012, it added.
Beijing Hyundai, a 50-50 joint venture between Hyundai and Beijing Automotive Industry Holdings, has two plants in China with a combined capacity of 600,000 units. The company recently launched a new C-segment sedan line.
Hyundai recently raised its 2009 China sales target for the second time because of Chinese government incentives to boost demand and plans to launch more new models.
