Chung Eui-sun, vice chairman of Hyundai Motor, said on June 23, “We have to face the reality that the paradigm of the Chinese economy is turning into a mid- to high-speed growth and local companies are rising rapidly. We have to stay on top of the change the Chinese market is undergoing.”
During his participation in the groundbreaking ceremony for Hyundai Motor’s Chongqing plant, Chung stressed, “The Chinese market is facing a drastic change. We have made sufficient preparations for it. Let’s write another chapter of success in China by using the construction of the new plant as a new opportunity.”
The Chongqing plant will become Hyundai Motor’s fifth production base in China. With an annual production capacity of 300,000 cars, the Chongqing plant will be have a land space of 1.87 million square meters and a floor space of 293,000 square meters.
It will be furnished with a full range of press, frame, painting, and trim lines, while having its own engine plant. The Chongqing plant will start producing four or five compact models designed specifically to meet local demands from the first half of 2017.
