Hyundai Motor Co. is seeking to sell the site of its suspended No. 1 Beijing plant to the Shunyi administrative district.
The plant site has been suspended since April 2019 after Hyundai suffered years of sluggish sales in China due to political tensions between South Korea and China over the deployment of an advanced US missile defense system, THAAD, in South Korea in 2017.
South Korea's biggest carmaker has four other plants in China -- two in Beijing, one in Changzhou, and another in Chongqing -- that are in operation.
Hyundai has seven domestic plants and 10 overseas plants, except for the Beijing No. 1 plant, with a combined capacity reaches 5.5 million vehicles.
To revive sales in China, Hyundai has stepped up its efforts to reorganize its sales networks and product lineup.
This year, Hyundai launched its independent Genesis brand in China and plans to launch electrified models such as the Hyundai IONIQ 5.


Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 



