Photo Courtesy of Hyundai
Photo Courtesy of Hyundai
Photo Courtesy of Hyundai
Photo Courtesy of Hyundai
Photo Courtesy of Hyundai

Hyundai Motor Wants Larger Share of China Market

Dec. 30, 2014
Hyundai with affiliate Kia Motors is the world's fifth-largest car producer. Its three current Chinese plants can produce a combined 1.05 million vehicles per year.

Hyundai Motor (IW 1000/46) said Tuesday it would build two more plants in China, each with a production capacity of 300,000 vehicles, to expand its share of the world's largest auto market.

"The construction of new plants will help the Hyundai-Kia group emerge as a leading carmaker and raise its market share of around 10% in China," the company said.

Hyundai, which already has three car plants in the country, said it would complete construction of its fourth plant at Changzhou in 2016 and of another plant at Chongqing in 2017.

"The two new plants in China will be used to produce small and strategic cars," the company said.

Hyundai with affiliate Kia Motors is the world's fifth-largest car producer. Its three current Chinese plants can produce a combined 1.05 million vehicles per year.

Hyundai also has a commercial vehicle plant in China with an annual capacity of 160,000.

The company said Kia would  expand its annual output capacity at its third Chinese plant from 300,000 units to 450,000 by the first half of 2016.

Kia has three plants in Jiangsu province that can produce a total of 740,000 units a year.

Within three years, Hyundai and Kia will be able to expand their combined annual production capacity to 2.7 million units in China, the statement said.

"The construction of new plants will help the Hyundai-Kia group emerge as a leading carmaker and raise its market share of around 10% in China," it said.

Hyundai has been struggling with capacity constraints abroad, while its rivals are raising output.

Copyright Agence France-Presse, 2014

Popular Sponsored Recommendations

See how 3M Enabled B2B Buyers with Trustworthy Self-Service Buying Experiences

Sept. 11, 2023
This one-pager explores the importance of enabling B2B buyers with self-service purchasing experiences that engender trust and provides insights into the steps businesses can ...

See how 3M Enabled B2B Buyers with Trustworthy Self-Service Buying Experiences

Sept. 11, 2023
This one-pager explores the importance of enabling B2B buyers with self-service purchasing experiences that engender trust and provides insights into the steps businesses can ...

Design for Manufacturing Examples: Real-Life Engineering Case Studies

May 18, 2022
A substantial majority of a part’s cost (70% or more) is effectively locked in once a design is finalized. How can a design engineer truly predict the most important cost drivers...

Accelerating the Future of Personalized Healthcare

Sept. 5, 2022
Technology promises to reshape the healthcare industry.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!