Published on June 24th, 2015 | by Daniel Sherman Fernandez0
Hyundai Motor Breaks Ground On Fifth Chinese Plant In Chongqing
Hyundai Motor breaks ground on its fifth manufacturing plant today in the Liangjiang New Area of Chongqing, China. Hyundai Motor’s Vice Chairman Euisun Chung, Communist Party Secretary of Chongqing Sun Zheng Cai, Korea’s Ambassador to China Jang-Soo Kim, the Mayor of Chongqing Huang Qifan, Beijing Automotive Group Chairman Xu Heyi and other 600 distinguished guests participated in the ground breaking event.
Vice Chairman Euisun Chung said, “I am very pleased to build Hyundai Motor’s fifth plant in Chongqing, the heart of mid-west China, where robust economic growth is taking place. We will utilize this plant as a means to establish a stronger market presence in western China, accelerating our plan to become a leading automaker in all regions of China.”
The new plant is a joint investment project of 1 billion USD between Hyundai Motor and Beijing Automotive Group. It will be a 293,000 square-meter facility, built on a 1.87 million square-meter site with annual production capacity of 300,000 vehicles. Hyundai Motor plans to produce new C-segment model strategically developed for Chinese consumers and SUV model in Chonqing plant. The production will start in 2017.