According to a recent announcement of Beijing Hyundai Beijing Automotive Industry Company(BAIC), its fifth factory has broken the ground in July 23 in Chongqing. The factory will hold a capacity of 300,000 whole cars per year and 300,000 engines per year upon its official operation in 2017, with which Beijing Hyundai’s general whole car capacity will approach 1.65 million units.
Upon the operation of the Chongqing factory, Beijing Hyundai will put two compact cars into production, thus raising the quota of compact cars in its portfolio, said a source close to Beijing Hyundai.
Located in the Liangjiang New Area, the factory covers an area of 1.87 million square meters, with an investment of 7.755 billion CNY. It is the second factory that Beijing Hyundai announced to establish this year. And the first one is the Hebei factory, with 7.45 billion CNY investments and a capacity of 300,000 whole cars per year and 300,000 engines per year.
SouthKoreanmediareportedthatChungMong-koothechairmanofHyundaiMotorGroup would present in the opening ceremony of the fifth factory, making his second overseas tourof 2015 after visiting American and Mexican factories in March. His visit in China is expected to encourage Beijing Hyundai’s fighting strength.