Hyundai Breaks Ground of Third China Factory
Hyundai Motor Company, South Korea’s largest automaker, began building its third plant in China 28 November with the goal of reaching a million unit a year total capacity by 2012. Beijing Hyundai Motor Company (BHMC), a 50-50 joint venture between Hyundai Motor and Beijing Automotive Industry Holding Co., held a ground-breaking ceremony for a 400,000 unit/year plant on 28 November in Shunyi District, Beijing. The new plant is scheduled to be completed by July 2012. The two existing plants which roll out up to 300,000 units each.
BHMC expects this year’s sales to exceed its target of 690,000 which is already beyond its annual capacity of 600,000, while cumulative sales may surpass 2.5 million units. The plant will be built on a 1.6 million m2 site, while the plant will have a floor space of 300,000 m2, featuring vehicle production facilities such as stamping, welding, painting, assembly and module lines, as well as engine production facilities.