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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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Harman expands China Operations by $100 Million 10/27/2010

Harman Expands in ChinaThe global audio and entertainment product manufacturer based in Stamford, Connecticut announced their plans to expand their China manufacturing and research capabilities by $100 Million USD this Monday. The new operation is set to be built in Dandong in the Liaoning Province in Northern China. They currently have operations in Shanghai, Suzhou and Shenzhen. Harman will be able to take advantage of some of the investment incentives provided to foreign investors by the city of Dandong.

Harman provides automotive electronics and audio systems for global automotive brands such as Audi, BMW, Chrysler, FIAT, Ferrari, General Motors and many more. Harman’s plan to expand in China seems like a logical step; last year China surpassed the U.S. as the leading automotive market in the world. Harman already has over 120 employees in China and has set a $1 Billion China sales objective to work towards.

Harman has seen reason to continue China expansion after the success of their participation as a sponsor and supplier to the Shanghai World Expo this year and record results at the 2008 Beijing Olympics as well.

Bloomberg Newsweek’s full article
Harman’s website & Picture Source

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