Hyundai Motor in China
The automaker said on December 17 that the annual production of Beijing Hyundai Motor, a joint venture between Hyundai and Beijing Automotive Industry Holding, has surpassed 1 million units so far this year.
“Beijing Hyundai Motor became the fourth carmaker in China to surpass 1 million vehicles in annual production after Shanghai Volkswagen, Yiqi Volkswagen and Shanghai GM,” said Yoo Bok-kyu, a spokesperson at the company.
As a result, in 2012 Hyundai Motor reached a milestone of 5 million units of cumulative sales in China, approximately 10 years after entering the market.
On the occasion of this milestone, the company is going to announce a new brand strategy next week. Last month, Hyundai started selling the Mistra, a mid-class sedan manufactured exclusively for the Chinese market.