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Hyundai opens $1 billion plant in China

04/08/2008, 12:10 PM

By paulee

South Korean based Hyundai on Tuesday announced it opened a $1 billion auto manufacturing plant with partner Beijing Automotive. The move could make China Hyundai’s biggest overseas market by 2010, overtaking the U.S. The two companies each hold a 50 percent stake in the venture, which should double production capacity in China to 600,000 vehicles. The plant is expected to produce 100,000 remodeled Elantras in 2008.

The Elantra will be the first new Chinese model in one-and-a-half years, and will sell for between an equivalent $14,250 and $18,540 there. Along with the first Hyundai Chinese manufacturing plant, Hyundai hopes to increase sales of its cars in the country to 380,000 in 2008, representing a 65 percent increase from last year, as per Automotive News.

Hyundai is planning on bringing more of its models to the world’s fastest growing car-market, hoping to capture 10 percent of the market together with affiliate Kia, or 1 million vehicle sales. The Genesis sedan should be introduced in China by June, of which Hyundai hopes to sell 1,500 of by the end of the year. On the other end of the spectrum, an economy car priced at between $5,000 and $6,000 and codenamed RB is said to be introduced by 2010.

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04/08, 12:15 PM

posted by:

jackjimturkey

Smart move. That’s where the car buyers of the future are

04/08, 12:25 PM

posted by:

iglesias294

If I ever met you, you chink bastards, I’d scrape you off the bumper of my quality European car, kick your face in with my quality European leather shoes, and pump a few quality European bullets in your lower body. You see, that’s what we Europeans do, quality.

Quantity, that’s your slanted-eyed rice-****ting yellow bastard country’s trademark. China can produce so much ****, exactly because it is ****. ****! Your women come straight from an assembly line. Plastic face hasn’t dried; nose and eyes seem to be molten. Hair? Factory work, all the same cheapass straight greasy black horse hair. ****ing ugly! No tits, no ass, no facial features, ****ing alien clones, millions of them!

Get the **** out of this civilized world, you yellow commies

04/08, 12:25 PM

posted by:

mayer_ray_nagin

Is China technically an “overseas” market for Hyundai? That’s like saying Canada is an “overseas” market for GM.

04/08, 12:27 PM

posted by:

Commodore

“car buyers of the future”…I hate hearing that. I hate the fact that Americans and the whole world has already decided that America isn’t that important (or some even think it’s bad) to the world, and that the 21st century will be the Asian century. Why? Because China and India are overpopulated dumps that have over a billion consumers/workers so now we will do everything China wants to please them and move 100,000s of our jobs there. China isn’t even a superpower yet, and we are already afraid of doing anything that will hurt our relationship with them. On the other hand, the US, virtually every western country and even Japan (the “developed” world) have aging/dying populations, falling economies or ones that grow slowly, and loss of jobs. What are we supposed to do? Have 8 kids per woman like it is in Africa until the US also has a billion people so that we can compete with China and India? In the end though, we are simply talking ourselves into it. Just like with the recession – everyone read the paper or watched the news, decided that we are in a recession, and stopped spending and in general went into “recession mode” speeding up our slide into recession. I fear the same will happen with China and India – we are basically speeding up the process of them becoming superpowers and being able to challenge us, we are helping them beat us basically because everyone has already decided that those two countries are unstoppable.

Before I am called retarded though, I will point out someone else who is more retarded. The writer of this post! “South Korean based Hyundai” is wrong. It should either be “South Korea-based Hyundai” or “The South Korean company Hyundai”

04/08, 1:00 PM

posted by:

johnnycanuck

I would rather have modern plants producing modern cars and trucks in China (or India) just for the sake of the planet’s environment. Whatever you may think politically or culturally there are no invisible walls extending into the upper atmosphere keeping their pollution within their borders.

What does scare me is the inevitable flood of Chinese and Indian vehicles into North America. Many out there will say competition is always a good thing. That only applies when the playing field is level. The only aspect that may be in our favor is they’ll be so busy trying to satisfy their own demands they won’t have the capacity to flood our market. Not right away anyway.

04/08, 1:29 PM

posted by:

xkr

**** hyundai!

04/08, 1:34 PM

posted by:

jackjimturkey

johnny: remember the Yugo? They’ll either sink or swim

04/08, 1:37 PM

posted by:

shaver

$1 billion used to buy you something really good.

Iglesias= Max Mosley

04/08, 1:49 PM

posted by:

LaCaLover

Free Tibet

04/08, 1:50 PM

posted by:

Tseug

iglesias294, your ignorance and intolerance is beyond limit.
With any luck, someone will have to scrape you off of a bumper very soon, and the world will be a better place as a result. The only thing that would make that even sweeter is if you were hit by a Hyundai.

04/08, 2:59 PM

posted by:

inspire

A whole lot of anti-China sentiment in the media (including LLN). Not sure why this sudden ‘fear’ of China. China is decades behind the G8 nations … almost like the US was in the 1800s. But their growth is explosive. I’ve never seen such development in such a short period of time. But it seems that things are slowing down there (mirroring the slowdown in the US, but not at such a huge decline …)

Anyway, what has this sentiment have to do with Hyundai opening a factory there? It is a fact that car sales in developing nations such as India, China, Brazil, etc … that is where a lot of car sales will occur. Wouldn’t GM / Ford / Chrysler be considered foolish not to sell cars there? You gotta sell stuff where the market is. Plain and simple.

Hey … if Hyundai can make money by moving production to China … more power to them. How will this affect the all-mighty US? Lower prices for cars? Is that a bad thing? Isn’t that what competition is all about?

04/08, 4:38 PM

posted by:

Commodore

LaCaLover – I think this is the first time I agree with you. Freeing Tibet and East Turkmenistan would hurt China politically which will help slow down their growth.

inspire – it isn’t a fear of China. It is about remaining competitive. Do we want to deal with another USSR situation (China being a lot stronger than the USSR)? Do we want to let others challenge us or do we want to remain ahead? China is getting all the development, all the influx of cash, jobs, and so on. Look up how many…skyscrapers for example are in construction in the US and compare that to how many are in China. Their car market is pushing 10 million, while we are struggling to stay ahead of Europe and have our lowest sales since the late 80s.

And this conversation became about China because jackjim INDIRECTLY referred to China as “the future”

04/08, 6:11 PM

posted by:

mayer_ray_nagin

I don’t get the focus on Tibet. Plenty of crap-holes in the world are subjugated. I wish someone would get rid of that Dolly Llama moron already.

04/08, 6:52 PM

posted by:

1c3d0g

iglesias294, although some of what you say is (sadly) true, the manner in which it is presented is not a good one…people don’t like racist insults and will ignore your comments because of that. There’s certainly A LOT that China needs to do to improve their quality, ’cause that is a word that apparently doesn’t appear in their dictionary. Safety is another one, but I’ll leave that for another occasion, as we have enough to deal with here. ;-)

04/08, 7:18 PM

posted by:

jackjimturkey

commodore: It’s all about the numbers. Americans already have cars. I’d guess there are 200 million chinese without cars who will be buying them soon. The U.S. is an important markt, but we’re trading in stuff.

04/08, 9:44 PM

posted by:

carbonsigma

A Korean car built in China. Great.

04/08, 9:54 PM

posted by:

hateful83

It seems like far too many car companies are interested in expanding and expanding only. The quality of design, significance, driving enjoyment, they’re all becoming secondary. I’d respect them alot more if it seemed like they had a well focused, good lineup. Kinda like how Honda is (although they’re straying). But, I guess I’m living in the past, very few car companies are like that anymore. Maybe Mazda, BMW, Honda,,,,, but mostly Mazda. Seems like everyone else just throws **** together to be competitive.

04/08, 10:56 PM

posted by:

ClarksonForPresident

RE #2

i’ll take it you’re of spanish origin… hmm let me see what that part of the world is famous for…

crybabies (aka Fernando Alonso)
stabbing bulls for fun
throwing goats off balconies for fun
being trampled by bulls for fun
cat stews
racist taunts in F1 races
racist taunts in soccer matches
burning people at stake
inquisition
slaughter of the inca
siding with the nazis
sucky navy (boy did you get OWNED by horatio nelson)
slave ships

last but not least… do they even have their own auto industry (besides rebadged VW’s)?

what a fine european tradition that is!

04/09, 12:01 AM

posted by:

400horseSS

haha, thats what we (corporate rich white americans) get for selling us out.

04/09, 12:03 AM

posted by:

400horseSS

And iglesias,, thats probably the most racist **** ive heard on here.

04/09, 12:54 AM

posted by:

Veda

Commodore: It’s a fact that the new chunk of car buyers will be in China. Sorry to say but China is the future whether you like it or not. Though I understand your paranoia of not staying as the “most powerful” nation on earth.

04/09, 10:25 AM

posted by:

mayer_ray_nagin

Saying China is “the future” is a bit of a misnomer. China is simply the next major economic power, along with India. The USA will continue to be a major economic power in the future also, as will Europe, so neither of those will slip into “the past” or go away.

Mind you in the 1980s people were saying Japan is “the future” and the USA had met its match, and really all that happened is Japan took its place as a major enomic power also. Other large economies are not a threat, they are an opportunity, people.

04/09, 10:58 AM

posted by:

planet_drive

All these new cars being built all over the world and less and less oil. Thanks to China and India gas will hit $5.00/gallon very soon. But we can’t be mad at them, they have every right to own cars as much as we do, we will just have to learn to drive less and drive more effecient cars.

04/09, 11:43 AM

posted by:

DeansterTJ

WOW Iglesias, what a ****ing rant! Holy ****, that was incredible!!! LOL!!!!

04/09, 11:46 AM

posted by:

DeansterTJ

400, it sounds like your union-monkey ass will be out of a job in a short while. Why don’t you try switching professions, maybe mopping the cum off the floors of the local peepshow? I hear there’s a lot of loose change to be found! LOL!

04/09, 3:28 PM

posted by:

kgm777

Hold on Julio, which color quality Trabant do you drive? Pea green! Thatsa nicea!

04/10, 1:53 AM

posted by:

carbonsigma

I have never heard so much bull**** before.

Iglesias, you suck. Calm down.

04/10, 1:56 AM

posted by:

carbonsigma

And no, I’m not Chinese, and I do drive European too.

 
 
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