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. SEOUL (Reuters) - Hyundai Motor Co on Tuesday said it aims to make more China-only and environment-friendly cars at two new Chinese plants, as it strives to fend off competition from Chinese rivals and slowing growth in the world’s biggest auto market. The company also plans to build an additional plant at Zhengzhou.
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. The company also plans to build an additional plant at Zhengzhou.