According to a Reuters report, Hyundai Motor said on Tuesday its China venture would build a second plant to increase production capacity to 600,000 units per year in the world’s fastest-growing vehicle market.
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The news agency noted that Beijing Hyundai Auto Co., Hyundai’s 50/50 joint venture with Beijing Automotive Industry Holdings, already has a plant in Beijing with an annual capacity of 60,000 units.
“Strong Chinese demand led us to advance our plan to boost output to 2007 from the originally planned 2010,” spokesman Jake Jang told Reuters, adding that construction would begin around the end of next year with completion due in 2007.
Reuters said that Beijing Hyundai builds only the EF Sonata model, a mid-size sedan that is the best selling car in South Korea, and expects to record sales of 52,000 units this year.
