EghtesadOnline: Hyundai Motor Co on Tuesday said its two new plants in China will produce environment-friendlier vehicles and models targeting the local market, as the South Korean automaker works to fend off competition from Chinese rivals.
Hyundai said it has completed its latest Chinese factory in Changzhou, and will open another one in Chongqing next year.
According to Reuters, the automaker said in a statement that the new production facilities will build models of varying sizes to compete with low-cost Chinese rivals. It also said it plans to sell a China-specific sport utility vehicle from as early as next year.
Hyundai said it aims to produce nine green vehicles in China by 2020, which will account for 10 percent of its sales in the country by that year.