Hyundai plans new plant
1 January 2004
Hyundai Motor, South Korea's largest carmaker, announced it plans to start construction on a plant near Beijing to produce 600,000 cars annually by 2007. The factory will be Hyundai's second Chinese plant after it set up a 50:50 JV last year with Beijing Automotive Industry holding to produce passenger cars.
The JV plant has so far produced 43,000 Sonata saloons, although it initially planned to expand to 200,000 cars by 2005, and to 600,000 cars by 2010.
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