Manage episode 293826301 series 2896467
Hyundai Motor sold its first factory in China, which once symbolized its aggressive expansion into the market, after years of sales held hostage by geopolitics.
The automaker agreed to sell its Plant 1 in Beijing to the government of Shunyi District, a satellite city of Beijing, according to industry sources and multiple media reports both in Korea and China.
“It is true that Hyundai Motor is pushing to sell the Beijing factory to the Shunyi District government,” said an industry source with knowledge of the sale.
Full Article: https://koreajoongangdaily.joins.com/2021/05/30/business/industry/Hyundai-Motor-China-Li-Xiang/20210530180500734.html