Hyundai building their second manufacturing unit in China

Hyundai building their second manufacturing unit in China

South Korea’s top automobile company Hyundai has announced that they are now building their second auto plant in China. This project would see an investment of a massive USD 1 billion and would help them expand their operations in this growing automobile market.

This plant is being located in the capital city of Beijing and would also include a new research center. It would have a capacity of manufacturing around 300,000 vehicles per annum.

Hyundai said in a statement: “Through continuing growth in China, which is an important center of our global strategy, we will establish our firm position as a global auto maker.”

Hyundai is collaborating with Beijing Automobile Investment for this unit and it is expected to be ready by next year. They would be further enhancing the capacity of this plant to manufacture 600,000 vehicles a year from 2008.

Hyundai believes that this new unit would provide employment to as many as 3,200 workers and would add five new models in China. The company already has made available as many as five models for sale in this market.