Modern Capital Increase of about 2.4 Billion to Expand Overseas Production
Hyundai Capital is set to boost its investment by approximately $2.4 billion this year as part of a broader strategy to expand its overseas production capabilities. According to a company spokesperson, the increased spending will primarily focus on strengthening manufacturing operations in key markets such as China and the United States. Currently, Hyundai Motor has two major joint ventures in China: Dongfeng Yueda Kia Motors Co., Ltd. and Beijing Hyundai Motor Co., Ltd.
Recent reports from Beijing Hyundai Motor Co., Ltd. confirm that the company has indeed raised capital, though the exact allocation of the $2.4 billion investment remains unclear. However, it is evident that Beijing Hyundai will require significant financial support this year due to its annual production capacity of 150,000 vehicles. The second phase of the Beijing Hyundai expansion project is already underway, with plans to construct a new sedan factory that will have an annual output of 300,000 units. This facility is expected to start construction in May, marking another major step in Hyundai's global growth strategy.
The company's decision to increase capital expenditure reflects its long-term vision to enhance its presence in emerging markets and meet rising demand for its vehicles. With ongoing projects in both China and the U.S., Hyundai is positioning itself for sustained growth and greater market share in the coming years.
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