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News

Hyundai to build car factory in Chongqing

2 April 2014
South Korea’s largest carmaker, Hyundai Motor Group, will build a fourth China plant in Chongqing with a designed production capacity of 300,000 vehicles a year. It will be located in Yufu Industrial Park in Liangjiang New Area.

Hyundai entered the China market in 2002 and it predicts national vehicle sales of 1.82m in 2014, according to Chung Mong-koo, chairman of Hyundai.

The investment will bring the number of car assembly plants in the municipality to 10, in addition to more than 1,000 car components and other related companies. Annual production of cars in Chongqing now exceeds 2m units, a total that is expected to rise to 4m by 2017.

Hyundai’s other three car assembly plants in China are all in Beijing.

     
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