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Hyundai building new-energy vehicle center in ....
Date:2015-06-18

JINAN, April 14 -- Hyundai Motor has begun building a new-energy vehicle research anddevelopment center in Yantai, east China's Shandong Province, sources with the localgovernment said on Monday.

 

The center, located in the city's economic development zone, will develop the three corecomponents of new-energy vehicles -- motors, batteries and electric controls -- and carryout overall car design, according to the economic development zone's administrativecommittee.

 

With a planned total investment of 290 million U.S. dollars, the center is expected to havean annual turnover of 100 million dollars when it goes operational later this year.

 

Hyundai Motor, the fifth-largest carmaker in the world, sold more than 4.7 millionautomobiles in 2013.

 

After entering China in 2002 with a joint venture in Beijing, the Republic of Korea firm hasexpanded steadily in the world's largest auto market.

 

Last month, Hyundai announced that it would build a fourth China plant in ChongqingMunicipality with a designed capacity of 300,000 vehicles per year.

 

Hyundai's total sales in China will hit 1.82 million vehicles this year, according to ChungMong-koo, chairman of Hyundai Motor.
(Editor:KongDefang、Liang Jun)