Beijing Hyundai increases capital by 8 billion yuan

Beijing Hyundai recently announced its strategic transformation plan. Chinese and Korean shareholders will jointly invest 8 billion yuan to enhance local R&D capabilities in Beijing, Yantai, and Shanghai, build local supply chains, promote Beijing Hyundai's transition to new energy vehicles, and export its R&D findings globally. Regarding products, Beijing Hyundai plans to launch 20 new products within 4-5 years, with a intensive rollout of new energy vehicles after 2027.