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Chinese automobile manufacturing company From Wikipedia, the free encyclopedia
Beijing Hyundai Motor Co., Ltd. is an automobile manufacturing company headquartered in Shunyi, Beijing, China, and a joint-venture between BAIC Motor and Hyundai Motor Company. Established in 2002, it manufactures in Shunyi District, a satellite city of Beijing,[2] producing Hyundai-branded automobiles for the Chinese market.
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| Company type | Joint venture | ||||||||||||||||
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| Industry | Automotive | ||||||||||||||||
| Founded | 18 October 2002 | ||||||||||||||||
| Headquarters | , China | ||||||||||||||||
Area served | China | ||||||||||||||||
| Products | Automobiles | ||||||||||||||||
| Owner | BAIC Motor (50%) Hyundai (50%) | ||||||||||||||||
Number of employees | 15,000[1] | ||||||||||||||||
| Chinese name | |||||||||||||||||
| Simplified Chinese | 北京现代汽车有限公司 | ||||||||||||||||
| Traditional Chinese | 北京現代汽車有限公司 | ||||||||||||||||
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| Beijing Hyundai | |||||||||||||||||
| Simplified Chinese | 北京现代 | ||||||||||||||||
| Traditional Chinese | 北京現代 | ||||||||||||||||
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| South Korean name | |||||||||||||||||
| Hangul | 북경현대 | ||||||||||||||||
| Hanja | 北京現代 | ||||||||||||||||
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| Website | www | ||||||||||||||||
In 2016, the company was reported as selling nearly 1.8 million vehicles.[3]
In May 2002, Hyundai Motor and the Beijing Automotive Group signed a memorandum of understanding with the aim of creating a joint venture based around an existing Beijing factory. Hyundai begun to improve the plant's installations,[4] and on 18 October 2002 an equally owned joint venture between the two companies was established. While it was not the first arrangement between a foreign and a domestic automaker, Beijing Hyundai was the first to be approved by the Chinese government after its entry into the World Trade Organization.[5] The joint venture initially expanded its production output through importation of key parts from South Korea and the creation of an integrated, Korean-owned supply network inside China.[6][7] Beijing Hyundai's sedan sales in 2005 were 224,700 units, ranking fourth in the country. By 2010, Beijing Hyundai sales reached 700,000, and Hyundai Motor Group became the number 2 carmaker in China behind Volkswagen.
2014 saw the company sell 1,120,000 vehicles,[8] and in 2016, Hyundai reached its peak, selling 1.14 million vehicles.[9]
However, following various issues, including the rise of Chinese car companies, marketing problems,[9] and the 2016 THAAD controversy, in which South Korea allowed the US military to deploy THAAD missile systems despite warnings from the Chinese government,[10] Beijing Hyundai sales collapsed, dropping to just 248,839 by 2022 and 240,792 in 2023.[11]
After the collapse in sales, the company sold its first factory in Beijing in 2021 to Li Auto, and in 2024, it sold another factory in Chongqing for just $226 million, less than half its listing price.[9]
At least four Hyundai models have been solely sold on the Chinese market. These are: BT01, indigenously designed; Lingxiang (Chinese: 领翔), an interior-and-feature localized Sonata NF; Elantra Yuedong, a localized version of the Elantra; and Verna, a city car.[12] All are tailored to Chinese tastes. The 5th generation Elantra is sold in China as the Langdong,[13] but little localization is likely to have occurred. Current products available exclusively in China includes
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Cheaper[14] products may be sold under a new, China-only brand name, Shouwang.[15] A concept vehicle was shown at car shows in China in 2011 and 2012, but the brand does not appear to have been launched.[16]
As of 2013, the company has at least three production bases[13] as well as an R&D center, all of which are probably in the Linhe Industrial Development Zone of the Shunyi District, a satellite city of Beijing.[17] Two of these produce automobiles and the other, engines.[17]
Its first automobile production base was completed in 2003 and the second in April 2008.[18] Construction on a third Beijing base begun in late 2010 should be complete in the second half of 2012.[19] At least one of these facilities is 17 km from Shunyi Yangzhen.[20]
A new site outside Beijing was inaugurated in 2016, and this Hebei location was producing a small city car, the Accent, as of 2017.[21]
In 2017, Beijing Hyundai opened its Chongqing plant, Which produces the Reina subcompact sedan until 2021.[22]
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