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Hyundai Now Plans Two Assembly Plants in China
China's central government has asked Hyundai Motor Co. to erect two car factories in China instead of one, sources tell Reuters.
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China's central government has asked Hyundai Motor Co. to erect two car factories in China instead of one, sources tell Reuters.
Hyundai currently operates three assembly plants in Beijing. In March it signed a preliminary deal to open a $1 billion fourth facility in Chongqing. Reuters' sources say China wants Hyundai to build a fifth factory in Hebei.
The South Korean carmaker had planned to open the Chongqing plant in early 2016. But Reuters says the facility is likely to begin operations later because it has not yet been granted permission to open.
In the meantime, Hyundai appears likely to open the Hebei plant ahead of the Chongqing factory, according to two Reuters sources.
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