Hyundai considers fourth plant in China
Automaker said to have earmarked USD548 million for expansion of production capacity in China.
In April, sales of the two brands grew by 25.1% year-on-year (y/y) in China. Beijing Hyundai, the joint venture (JV) producing Hyundai brand vehicles in China, saw sales of 85,100 units, up 27% y/y, reports Yonhap News. Meanwhile, Dongfeng Yueda Kia (DYK), the JV that produces Kia brand models in China, saw sales rise by 21.6% y/y in April with 46,220 units sold. DYK has two plants in China in Yangcheng, Jiangsu province, with a production capacity of 440,000 units. A new DYK plant is to begin production in 2014, bringing annual output to around 740,000 units. Meanwhile, Beijing Hyundai has three plants in China, with a capacity to produce one million units. A report from Reuters news agency states that Hyundai plans a fourth car plant in China's western region.
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