Hyundai will build a fifth plant in China
- As announced in the April 6, 2014 Inovev analysis of title "Hyundai will build a fourth plant in China", Hyundai has started the activity of its fourth plant located in Cangzhou (Hebei province) in the fourth quarter of 2016. The carmaker's production capacities will therefore be 1, 3 million vehicles per year by 2017, for sales of 1.05 million units in 2016 (due to capacities previously limited to 1 million units per year).
- As announced in the same analysis, Hyundai will benefit from an additional plant in 2019, that the carmaker opens in order to respond to the growth of the Chinese market which is expected to continue in the coming years.
- Indeed, the manufacturer has just announced that a fifth assembly plant is under construction in Chongqing, with a capacity of 300,000 vehicles per year, which will enable Hyundai to produce and sell locally 1.6 million d 'Units per year from 2019. It is to note that with an average increase of 10% per year, Hyundai has increased its sales in China by more than 100,000 units per year.
- These figures do not take into account the Kia plants, which have a production capacity of 750,000 vehicles per year in 2016 (increased to 900,000 units per year by 2017), with sales reaching 600,000 units in 2016
- The Hyundai-Kia Group is the third largest automaker in China, with a market share of close to 8%.
Contact us: info@inovev.com