Modern Capital Increase of about 2.4 Billion to Expand Overseas Production
Hyundai Capital Announces $2.4 Billion Investment to Boost Global Expansion
Hyundai Motor Co. has announced plans to increase its annual investment this year by 10%, reaching approximately $2.4 billion. According to a company spokesperson, the funds will primarily be directed toward expanding production facilities overseas, with key focus areas including China and the United States.
Currently, Hyundai operates two joint ventures in China: Dongfeng Yueda Kia Motors Co., Ltd. and Beijing Hyundai Motor Co., Ltd. A recent report from Beijing Hyundai confirmed that the company has indeed raised its capital. However, the exact portion of the $2.4 billion allocated specifically to Beijing Hyundai remains undisclosed.
Despite the lack of specific figures, it's clear that Beijing Hyundai will require substantial funding this year due to its annual production capacity of 150,000 vehicles. The second-phase expansion project is already underway, and in May, construction will begin on a new sedan factory capable of producing 300,000 units annually. This move underscores Hyundai’s growing commitment to strengthening its presence in the Chinese market and meeting rising demand for its vehicles.
The increased investment also reflects the company’s broader strategy to diversify its global manufacturing footprint and enhance operational efficiency. With rising competition and evolving consumer preferences, Hyundai is positioning itself to maintain its leadership in the international automotive industry.
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