Hyundai to Open Third Chinese Plant
"We have now decided to go ahead with the new plant in China to meet rapid sales growth here," the unnamed executive was quoted as saying by Reuters. Construction on the new facility, whose site is yet to be selected, will begin next year.
Total output of the South-Korean manufacturer is expected to increase, after production starts, by some 300,000 units. The deadline for the finalization of the construction is 2012, and will bring the total number of Hyundai vehicles produced from the 550,000 forecasted for 2009 to some 900,000.
Beijing Hyundai, the Chinese subsidiary of the South-Korean manufacturer reported August sales of 50,713, which represents an increase of 208% year on year. Year to date sales rose by 78.2 percent to 350,000 units, while the company's profits increased by 150 percent.
China was not the only market to give Hyundai a hike towards success. After outperforming Vauxhall and Ford in the UK and becoming the number one brand in the country, US numbers showed a record monthly sales for August.
The addition of the Tucson/ix35 to the range is hoped to provide yet another trampoline for Hyundai's sales. The SUV will become a centerpiece in the Hyundai line-up, with sales hoping to reach 300,000 units worldwide next year.