Beijing Hyundai Motor Co.,Ltd. is an automobile manufacturing company headquartered in Shunyi,Beijing,China,and a joint-venture between BAIC Motor and Hyundai Motor Company. Established in 2002,it manufactures in Shunyi District,a satellite city of Beijing,[2] producing Hyundai-branded automobiles for the Chinese market.
In 2016,the company was reported as selling nearly 1.8 million vehicles.[3]
History
In May 2002,Hyundai Motor and the Beijing Automotive Group signed a memorandum of understanding with the aim of creating a joint venture based around an existing Beijing factory. Hyundai begun to improve the plant's installations,[4] and on 18 October 2002 an equally owned joint venture between the two companies was established. While it was not the first arrangement between a foreign and a domestic automaker,Beijing Hyundai was the first to be approved by the Chinese government after its entry into the World Trade Organization.[5] The joint venture initially expanded its production output through importation of key parts from South Korea and the creation of an integrated,Korean-owned supply network inside China.[6][7] Beijing Hyundai's sedan sales in 2005 were 224,700 units,ranking fourth in the country. By 2010,Beijing Hyundai sales reached 700,000,and Hyundai Motor Group became the number 2 carmaker in China behind Volkswagen.
2014 saw the company sell 1,120,000 vehicles,[8] and in 2016,Hyundai reached its peak,selling 1.14 million vehicles.[9]
Decline
However,following various issues,including the rise of Chinese car companies,marketing problems,[9] and the 2016 THAAD controversy,in which South Korea allowed the US military to deploy THAAD missile systems despite warnings from the Chinese government,[10] Beijing Hyundai sales collapsed,dropping to just 248,839 by 2022 and 240,792 in 2023.[11]
After the collapse in sales,the company sold its first factory in Beijing in 2021 to Li Auto,and in 2024,it sold another factory in Chongqing for just $226 million,less than half its listing price.[9]
Products
At least four Hyundai models have been solely sold on the Chinese market. These are:BT01,indigenously designed;Lingxiang (Chinese:领翔),an interior-and-feature localized Sonata NF;Elantra Yuedong,a localized version of the Elantra;and Verna,a city car.[12] All are tailored to Chinese tastes. The 5th generation Elantra is sold in China as the Langdong,[13] but little localization is likely to have occurred. Current products available exclusively in China includes
Cheaper[14] products may be sold under a new, China-only brand name, Shouwang.[15] A concept vehicle was shown at car shows in China in 2011 and 2012, but the brand does not appear to have been launched.[16]
Production bases and facilities
As of 2013, the company has at least three production bases[13] as well as an R&D center, all of which are probably in the Linhe Industrial Development Zone of the Shunyi District, a satellite city of Beijing.[17] Two of these produce automobiles and the other, engines.[17]
Its first automobile production base was completed in 2003 and the second in April 2008.[18] Construction on a third Beijing base begun in late 2010 should be complete in the second half of 2012.[19] At least one of these facilities is 17km from Shunyi Yangzhen.[20]
A new site outside Beijing was inaugurated in 2016, and this Hebei location was producing a small city car, the Accent, as of 2017.[21]
In 2017, Beijing Hyundai opened its Chongqing plant, Which produces the Reina subcompact sedan until 2021.[22]
↑ Oh, Je-Wheon (2010). "Manufacturing Capability and Competitive Strategies of Beijing Hyundai in China". In Abō, Tetsuo (ed.). Competing Chinese and Foreign Firms in Swelling Chinese Economy: Competition Strategies for Japanese, Western and Asian Firms. Global Cultural and Economic Research. Vol.5. LIT Verlag Münster. pp.153–156. ISBN978-3-8258-1740-4.
For 2012 appearance, see "Hyundai Shouwang BHCD-1 concept". c|net. CBS Interactive Inc. April 24, 2012. Archived from the original on September 8, 2012. Retrieved January 16, 2013.
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
