Hyundai Motor considers selling one of its Beijing factory sites - Yonhap

Reuters2021-05-28

SEOUL/BEIJING May 28 (Reuters) - South Korea's Hyundai Motor Co is in talks with the Chinese government to sell one of its factory sites in Beijing, news agency Yonhap reported on Friday, citing unnamed sources.

Yonhap said Hyundai Motor is promoting the sale of the factory site, the first one it had built in Beijing, to the Shunyi district government in China's capital city.

Beijing Hyundai, the joint venture between Hyundai Motor and China's BAIC Motor Corp Ltd , has three manufacturing plants in Beijing.

Hyundai and BAIC did not immediately respond to requests for comment.

Chinese media on Thursday reported electric vehicle $(EV)$ maker Li Auto is interested in taking over the factory, citing unnamed sources. Li Auto declined to comment when contacted by Reuters.

In April, Hyundai Motor Group said it plans to launch EVs in China every year starting 2022 to enhance its presence in the world's biggest car market.

(Reporting by Heekyong Yang in Seoul and Yilei Sun in Beijing; Editing by Devika Syamnath)

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Comments

  • Garanguni
    2021-05-30
    Garanguni
    Hmmmm
  • TK360
    2021-05-29
    TK360
     Cannot understand why Hyundai exit China. 
  • MinkyHuat
    2021-05-29
    MinkyHuat
    Like and comment please 
  • Limth
    2021-05-28
    Limth
    Losing their grip in China
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