South Korea's Hyundai has announced that its two new factories will make green cars as part of a new Hyundai strategy for China , as it tries to fend off increasing competition from its Chinese rivals. Hyundai said it has completed its latest Chinese plant, its fourth , in Chongqing and will open another one in Chongqing in 2017 . With the addition of the two plants - each with annual production capacity of 300,000 - this will increase the total number of vehicles it can make in Changzhou , its largest market, by about half to 1.81 million annually . Hyundai Motor saw its market share fall to 8.9% seven-year marking a seven-year low, since less expensive Chinese rivals have lured away hits customers.
South Korea's Hyundai Motor has announced that its two new factories will make green cars as part of a new Hyundai strategy for China, as it tries to fend off increasing competition from its Chinese rivals. Hyundai said it has completed its latest Chinese plant, its fourth, in Changzhou and will open another one in Chongqing in 2017. With the addition of the two plants - each with annual production capacity of 300,000 - this will increase the total number of vehicles it can make in China, its largest market, by about half to 1.81 million annually. Hyundai saw its market share fall to 8.9% last year marking a seven-year low, since less expensive Chinese rivals have lured away hits customers.