CHONGQING – Beijing-Hyundai Motor Co., Ltd. completed its Chongqing plant, the joint venture’s fifth plant overall in China, on July 19.
The Chongqing plant is expected to begin production in August with annual output capacity of 300,000 vehicles and 200,000 engines. Construction of the plant, with a total area of 1.89 million square meters and total investment of ¥7.75 billion, began in June 2015. The completion of the plant allows Beijing-Hyundai’s domestic production and sales system to cover China’s southwestern market, and increases Beijing-Hyundai’s total annual output capacity to 1.65 million units.
The plant will produce the Reina entry-level sedan that debuted at the Chongqing Auto Show in June and a new small SUV, the Kona, that recently had its global debut. The new platform for the Reina will also be built.
The all-new Reina is expected to become Beijing-Hyundai’s exclusive product platform catered to customer needs in tier 3-4 markets.
The inauguration of the Chongqing plant comes amid a sharp sales downfall for Beijing-Hyundai so far this year. Sales were down 42.4 percent to just 301,277 units in the first half of 2017, less than a quarter of its annual sales target of 1.25 million units following a record 2016 in which sales reached 1.14 million units.