Hyundai Expands China Operations 11/29/2010

hyundai china expansionHyundai began building its third manufacturing plant in Beijing today. The two existing Beijing plants could not keep up with the rising demand. As reported in the Xinhua News, the new plant will cost about 6.5 billion RMB (about 1 billion USD) and will be able to produce 400,000 cars each year.

This new factory is expected to bump Hyundai’s production u p to 1 million cars per year in China. The two existing facilities can currently produce around 600,000 cars per year, but orders for 2010 are expected to be upwards of 700,000. This new factory in eastern Beijing will be operational in 2012, reaching full capacity in the years following.

The new factory is said to be the largest and most sophisticated of all of Hyundai’s 27 overseas manufacturing facilities.

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