BAIC Group and Hyundai Motor jointly increase investment in Beijing Hyundai to promote high-level opening up of the capital

BAIC Group and Hyundai Motor announced that they will jointly invest RMB 8 billion in Beijing Hyundai's capital increase. The move aims to strengthen Beijing Hyundai's competitiveness in the automotive industry and promote the high-level opening up of the capital. As a well-known automobile brand, Beijing Hyundai's product line includes a number of popular models, such as Sonata and Elantra. This capital increase will further enhance the company's R&D capabilities and market influence, and inject new vitality into the capital's economic development. After this capital increase, Beijing Hyundai's registered capital will increase to US$4.074 billion, and the shareholding ratio of both parties will remain 50%.