Shulou(Shulou.com)11/24 Report--

CTOnews.com October 8 news, Beijing Hyundai Chongqing factory is one of Beijing Hyundai's five factories in China layout, but also Beijing Hyundai in the peak of an important strategic layout. However, as Beijing Hyundai's sales in the Chinese market continue to decline, the Chongqing factory has been shut down for two years, becoming a heavy burden for Beijing Hyundai.

Recently, according to the announcement of the Beijing Property Rights Exchange, Beijing Hyundai Chongqing Factory was listed for sale with a base price of 2.58 billion yuan, including land use rights, above-ground buildings (structures) and related equipment. This is the second time Beijing Hyundai Chongqing factory has been listed for sale. The first time was on August 11 this year, and the transfer base price was 3.68 billion yuan. However, after the first listing, BAIC Group was listed for sale again on September 27, and the transfer base price has been lowered by 1.1 billion yuan. October 10 transfer date is approaching, whether there is a receiver is not known.

It is understood that Beijing Hyundai Chongqing Factory was opened in 2015, with a planned annual production capacity of 300,000 vehicles, covering an area of 1.872 million square meters, with a total investment of 8.39 billion yuan (also reported investment of 6.224 billion yuan). It was officially completed in July 2017. New Rena, Oncino, Fiesta and ix25 models are planned, with the new Rena being the first production model.

At the beginning of the construction of Chongqing factory, Beijing Hyundai was at its peak, and sales reached a peak of 1.13 million units in 2016. By 2017, Beijing Hyundai has 3 Beijing factories, 1 Hebei Cangzhou factory and 1 Chongqing factory, with a total production capacity of more than 1.6 million units, which is also the best among joint venture automobile enterprises.

Since then, Beijing Hyundai sales have declined all the way. Sales will be only 500,000 in 2020 and 340,000 in 2022. In the first half of this year, Beijing Hyundai sold only 130,000 vehicles.

Beijing Hyundai sold Beijing Shunyi No.1 Plant to Ideal Auto in 2021, Beijing Hyundai's first plant in China, due to a large amount of idle capacity.

CTOnews.com notes that Hyundai Motor Group CEO Jang Jae-hoon announced at an investor relations event in Seoul in June that he would close a factory in China and sell two factories in China. This means that with the official listing of the Chongqing plant, Hyundai will have only one factory left in China.

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