Hyundai Motor Inaugurates 4th Plant in China
On Tuesday, Hyundai Motor opened its fourth plant in China, further solidifying its status as the world's second largest automobile market, the Korea Times reported.
Korea's largest car company anticipates the newly-opened plant in Changzhou, Hebei Province to bolster the sales rate of the company in that area.
Hyundai can compete more effectively with multinational and home-grown Chinese automakers with the inauguration of the said plant. The plant in Changzhou can manufacture about 300,000 compact sedans and sports utility vehicles (SUVs) every year.
Hyundai's new plant in Changzhou has 3,000 workers and is expected to increase the company's yearly production to 1.35 million vehicles in the country. After completing the fifth plant of Hyundai in China in 2017, the company is predicted to increase its production to 1.65 million.
A ceremony to commemorate the completion of the plant was attended by Hyundai Motor Group Chairman Chung Moong Koo and 800 senior Chinese government officials and executives of the company's business partners.
Chairman Chung stated during the ceremony, "Since Hyundai opened its first Chinese plant in 2002, its cumulative sales have surpassed 8 million vehicles. Hyundai and its affiliate Kia Motors are now operating eight passenger vehicle production plants in China, including the Changzhou plant, churning out 2.4 million cars together each year."
The new facility has an excellent transport infrastructure. The plant is only 200 kilometers away from the first plant of Hyundai in China, which means that it can easily get supplies from other existing auto parts makers. It can also make use of the logistics hub at the Tianjin port.
An official of the company said, "We mobilized all our know-how and expertise to build the Changzhou plant as the most advanced smart automobile factory we could build. It's automation rate and productivity are the highest among Hyundai and Kia plants. The facility will produce an average of 38 cars per hour next year and increase the number to 66 in 2018 when it operates at its full capacity."