Trade Resources Company News Hyundai Will Build Its Fourth Car Manufacturing Plant in China

Hyundai Will Build Its Fourth Car Manufacturing Plant in China

South Korean automaker Hyundai Motors is planning to build its fourth car manufacturing plant in western part of China.

The automaker's move follows its plans to boost overseas production to offset increasing production costs in South Korea, over a firm local currency and labour issues.

Hyundai Motors vice chairman Hsueh Yung-hsing was cited by Reuters as saying: "We expect our capacity in China to become constrained by 2015 and 2016 ... and are considering the western part of China for expansion."

In addition, construction on Hyundai's subsidiary, Kia Motors' third China auto plant is anticipated to be carried out from the following two months, with expected completion in February 2014.

The South Korean firm is aiming to increase its global sales by 4.1% in 2013 to about 7.41 million vehicles, compared to the 7.12 million units sold during 2012.

 

Source: http://manufacturing.automotive-business-review.com/news/hyundai-plans-fourth-car-manufacturing-plant-in-china-100513
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Hyundai Plans Fourth Car Manufacturing Plant in China
Topics: Auto Parts