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Beijing Hyundai turns out 100,000th car
Updated: 2004-06-01 14:05
Beijing Hyundai Motor turned out Wednesday its 100,000th car, a 1.8L Elantra sedan, since it started operation one and a half years ago.
As a 50-50 joint venture set up in late 2001 by Beijing Automotive Industry Holdings Corp (BAIHC), China's fifth largest auto group, and the biggest automaker Hyundai Motors of the Republic of Korea (ROK), the company sold 52,000 cars last year.
Its sales volume has kept rising this year, ranking sixth in the country's auto industry.
According to company sources, its annual production capacity has been boosted to 150,000 cars.
In addition, the company also boasts the biggest number of 140 auto welding robots and an engine plant with an annual capacity of 150,000 engines in the country, the sources said.
Company sources said a new sports utility vehicle (SUV) called TUCSON will be introduced by the end of this year, and another new car model will be added next year before its annual production capacity reaches 300,000 cars.
The company was the first automobile joint venture approved by China after its entry to the World Trade Organization in December 2001.
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