Beijing Hyundai sells Chongqing plant for RMB 1.62 billion, reducing the number of plants in China to three

On January 17, Beijing Hyundai sold its Chongqing factory to Chongqing Liangjiang New Area Yufu Industrial Park Construction Investment Co., Ltd. for 1.62 billion yuan, reducing the number of factories in China to three. This move aims to rationally adjust the operation mode of factories in China to improve efficiency. After Hyundai's sales in China reached a peak of 1.14 million vehicles in 2016, sales have declined due to various factors.