Mexican Media Brands
Hyundai Plans Fourth Auto Plant in China
Hyundai Motor Co. hopes to open its fourth assembly plant in China in 2016, adding 300,000 units of annual capacity in the country.
Share
Hyundai Motor Co. hopes to open its fourth assembly plant in China in 2016, adding 300,000 units of annual capacity in the country.
The company says Chairman Chung Mong-koo plans on Thursday to sign a memorandum of understanding to build the factory in Chongqing. Reuters cites an unidentified source who puts the project's value at 1 trillion won ($930 million).
Last year Hyundai sold 1 million vehicles in China. Its current facilities outside Beijing have combined annual capacity to make nearly 1.1 million vehicles.
The new factory will be Hyundai's first major new plant since 2012, when it opened facilities in Brazil and China. Chung ordered a halt to new construction shortly thereafter, worrying that too much expansion might produce quality issues similar to those that plagued Toyota Motor Corp. after its big growth spurt a decade ago.
The freeze enabled Hyundai and its suppliers to refocus on quality. But it also has strained existing capacity. Reuters says Hyundai and its Kia affiliate utilized 105% of their global capacity last year. The two companies hope to sell nearly 7.86 million vehicles in 2014 from 7.56 million in 2013.
RELATED CONTENT
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
-
The Koenigsegg Jesko Has An Amazing Engine
It is hard to believe that this is a vehicle in “serial” production with such extraordinary powertrain performance
-
Robotic Exoskeleton Amplifies Human Strength
The Sarcos Guardian XO Max full-body, all-electric exoskeleton features strength amplification of up to 20 to 1, making 200 pounds—the suit’s upper limit—feel like 10 pounds for the user.
