Hyundai Set to Open Fifth Assembly Plant in China
Hyundai Motor Co. will launch production at its fifth Chinese assembly plant in August.
Hyundai Motor Co. will launch production at its fifth Chinese assembly plant in August.
The new factory in Chongqing will be operated as a 50:50 joint venture with Beijing Automotive Group Co. The facility will have annual capacity to make 300,000 vehicles, thereby raising Hyundai’s overall production capacity in China to 1.65 million units.
The plant will build about 30,000 small cars this year, according to Hyundai. It says the complex will expand its lineup by adding two small sedans and two subcompact crossover vehicles by 2019. The factory’s output will be marketed exclusively in China.
The Chongqing facility is coming online as Hyundai struggles with a 37% drop in sales in China. The shrinkage has been caused by government disapproval of South Korea’s deployment of a U.S.-supplied anti-missile system.
The slump prompted Hyundai in March to idle all four of its factories for one week, apparently to trim dealer supplies of unsold cars.
RELATED CONTENT
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.