Hyundai Motors to Build Two More Manufacturing Plants in China
D-Bo , Dec. 31, 2014, 10:17 a.m.
Hyundai Motor will increase its production capacity in China by building two new plants in Changzhou and Chongqing that will each produce up to 300,000 cars annually, the automaker announced. Its total production capacity there will grow from 1.21 million to 1.81 million cars when the plants reach full operation in 2018. Hyundai Motor currently has three plants on the outskirts of Beijing.
Construction will start in the second and third quarters of next year, with production to begin in 2016 or 2017. These facilities will focus on compact and midsized sedans to meet the tastes of local Chinese customers.
The Changzhou site is located only 500 km from Beijing, putting it close to parts manufacturers. It is expected to benefit from the Chinese government's initiative to develop the metropolitan area of Beijing, Tianjin and Hebei. The region is also home to 30 million people, making it a good foothold for expansion in China as demand for automobiles rapidly increases.