South Korean automaker
Hyundai Motor has announced that it has started the construction of its fifth Chinese manufacturing plant in Chongqing.
With the new plant
Hyundai aims to establish a stronger market presence in western
China, accelerating its plan to become a leading automaker in all regions of
China.
The new plant is a joint investment project of $1 billion between
Hyundai Motor and Beijing
Automotive Group with an annual
production capacity of 300,000 vehicles. The
production will start in 2017.