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August 1, 2007

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Beijing Hyundai to develop six models within three years

By Jorvan From: www.gasgoo.com

Beijing Hyundai recently disclosed they will begin developing its own models in the coming three years.

This is the third auto maker to announce such plan so far, the former two being Guangzhou Honda and Shanghai VW.

"We have been developing these new models for a while, the models will be SUV's and sedan's." Said Xu Heyi, president of Beijing Hyundai.

The three new models will be launched successively at the 2008 Beijing Auto Show, 2008 Olympics Games and the 60th anniversary of People's Republic of China.

Meanwhile, Beijing Hyundai will increase investment into its two auto parts plants in Beijing.

Beijin Hyundai is an equal weighted joint venture between Hyundai Group and Beijing Automotive Industry Holding Group. Beijing Hyundai sold more than 290.000 (233,600 in 2005) cars in 2006. The Hyundai Group announced to target sales of 1 Million Hyundai and Kia vehicles in the Chinese market in 2008.

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July 31, 2007

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