Hyundai Plans 40% Growth in Chinese Output

Hyundai Motor Co. says it aims to boost annual production at its joint venture in China to 1.4 million vehicles by 2015 from 1 million units this year.

That partnership with Beijing Automotive Group Co. plans to increase the ratio of mid- and high-end vehicles to more than 50% in that period. The venture operates three factories in China.

Hyundai, which sold 739,800 vehicles in the country last year, intends to surpass the country's rapid growth rate in auto sales. McKinsey & Co. predicts demand in China will increase by an average 8% per year to 22 million units in 2020.