SEOUL : Hyundai Motor has decided to produce Beijing Automotive Group Co's EV brand ARCFOX cars at its plant in Beijing in a bid for a breakthrough in a major market where it has been struggling to make a foothold, a news report said on Wednesday.The production, if it materializes, would be the first inst
FILE PHOTO: A Beijing Hyundai sign is seen at an entrance to the Beijing Hyundai Motor plant in Chongqing, China October 8, 2018. REUTERS/Yilei Sun/File Photo
The production, if it materializes, would be the first instance of Hyundai's foray into manufacturing an outside brand on contract, the Korea Economic Daily reported citing automotive industry and local Chinese sources. Beijing Hyundai Motor will likely oversee the design, production and quality control and use its plant in Beijing, the report said.
Hyundai, which had five plants in China at its peak, sold one in 2021. It plans eventually to run just two, optimising production for export to emerging markets.
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