Hyundai Motor considers Beijing plant sale – report

Hyundai Motor considers Beijing plant sale – report
Hyundai has also launched its premium Genesis model in China this yr

Hyundai is seeking to provide an idle plant web-site in China to a nearby district federal government, in accordance to a report by the Korean information company Yonhap.

The report claimed Hyundai Motor plans to provide the web-site of the No. one Beijing plant, which has been suspended due to the fact April 2019, to the Shunyi administrative district. Yonhap cited an nameless resource common with the make a difference. The transfer could abide by an evaluation by Hyundai of production capability in the nation as it tries to revive desire in its products and solutions. The luxury Genesis model is also launching in China this yr.

The report pointed out the No. one Beijing plant’s suspension next significantly slower profits for the Hyundai model amid political tensions in 2017 between Beijing and Seoul around the prepared deployment of a missile defence process in South Korea.

Yonhap claimed Hyundai did not confirm the plant’s sale plan. Hyundai has 4 other plants in China that are still in operation, the report notes.

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