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Beijing Hyundai

From Wikipedia, the free encyclopedia
Beijing Hyundai Motor Co., Ltd.
Company typeJoint venture
IndustryAutomotive
Founded18 October 2002
Headquarters
Shunyi, Beijing
,
China
Area served
China
ProductsAutomobiles
OwnerBAIC 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
Transcriptions
Standard Mandarin
Hanyu PinyinBěijīng Xiàndài Qìchē Yǒuxiàn Gōngsī
Beijing Hyundai
Simplified Chinese北京现代
Traditional Chinese北京現代
Transcriptions
Standard Mandarin
Hanyu PinyinBěijīng Xiàndài
Wade–GilesPei3-ching1 Hsien4-tai4
IPA[pèɪ̯tɕíŋ ɕi̯ɛ̌ntǎɪ̯]
Yue: Cantonese
Yale RomanizationBākgīng Yihndoih
JyutpingBak1 ging1 jin6 doi6
South Korean name
Hangul북경현대
Hanja北京現代
Transcriptions
Revised RomanizationBukkyeong Hyeondae
McCune–ReischauerPukkyŏng Hyŏndae
Websitewww.beijing-hyundai.com.cn
Beijing Hyundai Office building in Beijing

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.

In 2016, the company was reported as selling nearly 1.8 million vehicles.[3]

History

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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]

Decline

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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]

Products

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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

Current production

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Former production

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Current imported

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Former imported

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Shouwang brand

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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]

Production bases and facilities

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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]

See also

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References

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  1. ^ "Brief Introduction" (in Chinese). Beijing Hyundai Motor. Archived from the original on 2009-05-22. Retrieved 2015-03-21.
  2. ^ For ownership and company information, see BEIJING HYUNDAI OPENS NEW PLANT, ADDS NEW MODEL Hyundai Official Site, 2008-04-11
  3. ^ Yu Nakamura and Shunsuke Tabeta (January 19, 2017). "China widens its lead as the world's No. 1 car market". Nikkei Asian Review. Archived from the original on 2017-01-19. Retrieved 2012-02-02.
  4. ^ Oh, Je-Wheon (2010). "Manufacturing Capability and Competitive Strategies of Beijing Hyundai in China". In Abō, Tetsuo (ed.). Competing Chinese and Foreign Firms in Swelling Chinese Economy: Competition Strategies for Japanese, Western and Asian Firms. Global Cultural and Economic Research. Vol. 5. LIT Verlag Münster. pp. 153–156. ISBN 978-3-8258-1740-4.
  5. ^ "Beijing Hyundai Co. , Ltd". Chinacsrmap.org. Archived from the original on March 4, 2016. Retrieved August 28, 2013.
  6. ^ Thun, Eric (2006). "Global Integration and the Challenge of Upgrading". Changing Lanes in China: Foreign Direct Investment, Local Governments, and Auto Sector Development. Cambridge University Press. pp. 238–239. ISBN 978-0-521-84382-9.
  7. ^ Doing Business in Beijing By China Knowledge Press Pte Ltd, Page 263 (2nd Ed., "2004 Edition"- 2005)
  8. ^ "Hyundai Motor reveals goals for sales in China". Korean JoongAng Daily. JoongAng Ilbo. Jan 17, 2013. Retrieved 21 September 2013.
  9. ^ a b c Jin, Qian (2024-01-17). "Beijing Hyundai sold Chongqing factory for 226 million USD, less than half of its initial listing price". CarNewsChina.com. Retrieved 2024-09-15.
  10. ^ "China military criticizes 'wrong' U.S. moves on Taiwan, South China Sea". Reuters. August 17, 2017.
  11. ^ "Hyundai. Car Sales in China". www.chinamobil.ru. Retrieved 2024-09-15.
  12. ^ For the BT01, see HYUNDAI REVEALS THREE NEW MODELS AT SHANGHAI AUTO SHOW Hyundai Official Site, 2009-04-20
  13. ^ a b "Hyundai Motor Unveils China-Exclusive Elantra at the 2012 Beijing Motor Show". Hyundai Motor Company. 2012-04-23. Retrieved January 16, 2013.
  14. ^ "Hyundai to launch new sub brand in November". Chinacartimes. October 12, 2011. Archived from the original on 2012-01-16. Retrieved 2012-02-02.
  15. ^ "Short Torque". China Daily. 2011-11-28.
  16. ^ For 2011 appearance, see de Feyter, Tycho (November 20, 2011). "Beijing-Hyundai Shouwang BHCD-1 at the Guangzhou Auto Show". carnewschina.com. Retrieved January 16, 2013.
  17. ^ a b Industrial tourism to Beijing Hyundai Auto Co. Ltd Press Release, Information Center of Shunyi District Government, 2009-4-12
  18. ^ For first production base, see Beijing Auto Manufacturing Base Press Release, Information Center of Shunyi District Government, 2009-4-10
  19. ^ "Short Torque: Hyundai's third facility", China Daily: 19, 2010-12-06
  20. ^ Part Overview Archived 2011-04-30 at the Wayback Machine Beijing Hainachuan Automotive Parts Co., Ltd.
  21. ^ Jin, Hyunwoo (27 March 2017). "Hyundai suspends China plant for a week amid diplomatic stand-off". reuters.com. Thomson Reuters.
  22. ^ Lee, Seung-hoon (2017-09-20). "Hyundai Motor rolls out All New Reina from new Chinese factory Amid woes in China". Maeil Business Newspaper. Retrieved 2019-01-30.
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