Hyundai is thinking about a plant in Southeast Asia following China setback

by SpeedLux
2017 Hyundai Elantra

Hyundai Motor stated it is thinking about constructing an automobile plant in Southeast Asia with Indonesia and Vietnam possible places – part of efforts to diversify after a sales downturn in China.

The automaker does not have an automobile manufacturing factory in Southeast Asia, although it has some pure assembly operations in Indonesia and Vietnam where vehicles are made from “knock-down” kits consisted of major part groups.

A diplomatic row between Beijing and Seoul in 2017 concerning the South Korea’s planned deployment of U.S. anti-missile defense system THAAD has harmed Hyundai and other South Korean companies that are highly dependent on the Chinese market.

Hyundai anticipates its China sales to reach about 900,000 vehicles this year, a healing from levels last year, vice chairman and heir apparent Chung Eui-sun likewise stated on the sidelines of the consumer electronics show in Las Vegas, as per a company spokeswoman.

Hyundai has not revealed estimates for 2017 China sales however sales of 900,000 would still be much below its production capacity of 1.65 million automobiles in its greatest market. Chung added that Hyundai is preparing to enter China’s fuel cell electric vehicle market, after the automaker revealed its new fuel cell electric automobile, NEXO, with an estimated driving series of 370 miles, at the event.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More