SEOUL: South Korea’s Hyundai Motor said it is considering building a car plant in Southeast Asia with Indonesia and Vietnam possible locations – part of efforts to diversify after a sales slump in China.
Hyundai expects its China sales to reach about 900,000 vehicles in 2018, a recovery from levels last year, vice chairman and heir apparent Chung Eui-sun also said on the sidelines of the consumer electronics show in Las Vegas, according to a company spokeswoman.
Hyundai has not disclosed estimates for 2017 China sales but sales of 900,000 would still be far below its production capacity of 1.65 million vehicles in its biggest market. Chung added that Hyundai is planning to enter China’s fuel cell electric car market, after the automaker unveiled its new fuel cell electric vehicle, NEXO, with an estimated driving range of 370 miles, at the show. —Reuters