Hyundai Motor considers Beijing plant sale – report

Hyundai Motor considers Beijing plant sale – report
Hyundai has also introduced its high quality Genesis model in China this yr

Hyundai is searching for to market an idle plant site in China to a local district government, in accordance to a report by the Korean news agency Yonhap.

The report reported Hyundai Motor designs to market the site of the No. one Beijing plant, which has been suspended because April 2019, to the Shunyi administrative district. Yonhap cited an anonymous supply familiar with the make a difference. The transfer could stick to an evaluation by Hyundai of production capability in the place as it tries to revive desire in its solutions. The luxurious Genesis model is also launching in China this yr.

The report mentioned the No. one Beijing plant’s suspension following considerably slower revenue for the Hyundai model amid political tensions in 2017 between Beijing and Seoul in excess of the prepared deployment of a missile defence procedure in South Korea.

Yonhap reported Hyundai did not verify the plant’s sale plan. Hyundai has four other vegetation in China that are however in procedure, the report notes.