The expansion is being managed via a 50-50 joint venture between Hyundai and Beijing Automotive Industry Holding Co. Each new plant will have an annual capacity of 300,000 units, bringing the joint venture’s overall capacity up to 1.65 million units by 2018.
The plant in Cangzhou, Hebei province, is slated to open by the second half of 2016, with 221,000 square meters of floor space and an initial output of around 200,000 units per year.
The following factory, located in Chongqing, will not begin construction until the third quarter of 2015. It will provide an additional 274,000 square meters of floor space, including vehicle and engine production facilities.
“The new plants are expected to further reinforce the company’s presence as a leading automaker in the Chinese market,” the company said in a statement.
The Korean automaker is working on new small and midsize models specifically designed for Chinese buyers in the world’s largest automotive market. Some of the new offerings are expected to roll out of the Chongqing facility by 2017.
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