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China Daily | Updated: 2014-12-31 06:52
Hyundai to build two more plants in nation
Hyundai Motor Co plans to build two more plants in China with local partner BAIC Motor Corp, expanding local output by about 57 percent to meet demand in the South Korean carmaker's biggest market. The factories in Cangzhou, Hebei province and Chongqing city will begin production in the second half of 2016, according to BAIC's statement to Hong Kong stock exchange on Tuesday. Annual output will be 300,000 vehicles each factory, BAIC said. Hyundai already has three plants in the country, where it faces rising competition and ranks fourth in sales among foreign brands.
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