Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Hyundai Motor considers selling one of its Beijing factory sites - Yonhap

Published 05/28/2021, 02:21 AM
Updated 05/28/2021, 04:56 AM
© Reuters. FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers

© Reuters. FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers

SEOUL/BEIJING (Reuters) - South Korea's Hyundai Motor Co is in talks with the Chinese government to sell one of its factory sites in Beijing, news agency Yonhap reported on Friday, citing unnamed sources.

Yonhap said Hyundai Motor is promoting the sale of the factory site, the first one it had built in Beijing, to the Shunyi district government in China's capital city. (https://

Beijing Hyundai, the joint venture between Hyundai Motor and China's BAIC Motor Corp Ltd, has three manufacturing plants in Beijing.

Hyundai and BAIC did not immediately respond to requests for comment.

© Reuters. FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain, May 31, 2020. REUTERS/Andrew Boyers

Chinese media on Thursday reported electric vehicle (EV) maker Li Auto is interested in taking over the factory, citing unnamed sources. Li Auto declined to comment when contacted by Reuters.

In April, Hyundai Motor Group said it plans to launch EVs in China every year starting 2022 to enhance its presence in the world's biggest car market.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.