South Korea: Hyundai’s share in China drops to 1%:
-Chongqing factory also stopped operation-
February 22, 2022
Hyundai is struggling due to a decrease in sales in China.
One of the major factories has been shut down. “
“Daiichi Keikei”:
February 21,
Beijing Hyundai Chongqing Factory
“Production has been suspended since December last year, and most of our employees are on vacation,” he said.
Beijing Hyundai:
It had the first, second and third factories in Beijing and the factories in Cangzhou and Chongqing.
Due to business difficulties last year, the Beijing No. 1 plant was sold to Li Auto, an emerging EV.
Chongqing Factory:
Recently, the Chongqing factory has been shut down.
The Chongqing plant was established in 2017 with an investment of 1.6 trillion won (154.1 billion yen).
With an annual production of 300,000 units, it was producing a dedicated vehicle for China.
Beijing Hyundai:
The number of units sold in the Chinese market peaked at 1.14 million units in 2016.
It has dropped to 385,000 in 2009.
Kia:
In addition, the Chinese business of Kia Motor Co., Ltd. is suffering from sluggishness.
China Automobile Industry Association:
Hyundai / Kia’s total share of the Chinese passenger car market.
It rose to 7.3% in 2016, but fell to 1.7% in 2009.
Korean internet users:
Do not do business with China, you should withdraw.
China betrays only technology from Korean companies.
Let’s not build a factory in China anymore.
Isn’t it always done by China?
China sucks a lot of sweet juice and betrays if it receives technology transfer for free.
When you withdraw from China, you have to blow up all the equipment in the factory to make a fake.
Korea Yonhap News
https://www.recordchina.co.jp/b889860-s39-c20-d0195.html
Beijing Hyundai’s Chongqing Plant Shut Down since December 2021, Chinese News Outlet Says
Citing remarks made by an insider of Beijing Hyundai, China Business News reported on Feb. 21
that the Chongqing plant of Hyundai Motor’s Chinese joint venture Beijing Hyundai had been suspended since December 2021.
It added that most of the production line workers are on vacation.
The Chongqing plant is one of the four factories operated by Beijing Hyundai.
Of the three others, two are in Beijing and one is in Changzhou.
Beijing Hyundai
originally operated its first, second and third plants in Beijing, its business base, but sold the first one in 2021 as business difficulties continued.Businesskorea
http://www.businesskorea.co.kr/news/articleView.html?idxno=88068