Work has started on Beijing Hyundai Motor’s third auto plant in Shunyi district in suburban Beijing. China‘s top political advisor, Jia Qinglin, attended the groundbreaking ceremony and noted that trade between China and South Korea topped US$150 billion during January to September this year, up 36.7 percent year-on-year.
Jia said that while China‘s economy has been growing at a stable and relatively fast pace, the automobile industry, a representative pillar sector in China, has shown robust growth and is expected to produce more than 15 million automobiles this year.
He said the Chinese government has been encouraging automobile manufacturers to boost their research capacity and production of clean energy-powered automobiles, seeking higher requirements for Beijing Hyundai in its future development.
English.news.cn reported that Beijing Hyundai’s third plant will have an annual production capacity of 400,000 vehicles when completed in 2012. Hyundai’s two other plants, which are also in Shunyi, currently produce a combined 600,000 units per year.
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