According to Beijing Automotive Co., Ltd., which is listed in Hong Kong, Beijing Hyundai Motor Co., Ltd. will build a new automaker in Hebei and Chongqing, respectively. Both new plants will be completed and put into production in the second half of 2016.
The Zhangzhou and Chongqing plants will start construction in the second and third quarters of this year, with a design capacity of 300,000 units. After the two plants are put into production, Beijing Hyundai's annual production capacity will increase from the current 1.05 million to 1.65 million.
Founded in 2002, Beijing Hyundai is a joint venture between BAIC Group and Hyundai. Currently, there are 3 factories in Shunyi, Beijing, with a total capacity of 1.05 million vehicles per year.
In China, Hyundai has a commercial vehicle joint venture in Sichuan; Hyundai Group's Kia Motors also has a passenger car joint venture: Dongfeng Yueda Kia Motors Co., Ltd., which has three plants in Yancheng, Jiangsu Province, with an annual production capacity of 740,000 vehicles.
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