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Hyundai Plans Two More Assembly Plants in China
Hyundai Motor Co., which operates three assembly plants in China, says it will open two more there in 2016 and 2017.
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Hyundai Motor Co., which operates three assembly plants in China, says it will open two more there in 2016 and 2017. Each will have capacity to make 300,000 vehicles per year.
The first of the new factories will be a small-car plant in Changzhou. The second, in Chongqing, is for small and midsize vehicles. Hyundai did not indicate the cost of either facility.
Affiliate Kia Motors Corp. said earlier it will expand the annual capacity at one of its three factories in Jiangsu 50% to 450,000 units by 2016.
The two carmakers aim to achieve combined annual production capacity in China, including commercial vehicles, of 2.7 million units by 2018 from nearly 2 million currently.
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