Hyundai Motor To Make 36,000 Cars In China 03

Monday , 9:02 pm ET

SEOUL -October 7, 2002 :Dow Jones reported that South Korea's Hyundai Motor Co. plans to produce 36,000 units of its medium-size sedan EF Sonata in 2003 in its new joint venture with China's Beijing Automotive Industry Holding Co., the Korea Economic Daily reports, citing an unnamed company official.

Hyundai Motor, the country's largest car maker, signed a final agreement with Beijing Automotive in April for the joint venture, which will begin production at the end of this year.

The report says the joint venture aims to produce a total of 500,000 EF Sonata sedans by 2010.

The joint venture will also start producing its compact model Avante XD from 2004 and aims to make 665,000 units of Avante XD by 2010.

The venture also plans to expand production lines to make Verna, another compact model, from 2007 and its truck model Mighty from 2005, the report says.

Hyundai Motor's affiliate Kia Motors Corp. , which has been producing its compact model Pride in its Chinese operations, also plans to expand its production lines to medium-sized sedan models and sports utility vehicles, the report says, citing an unnamed Kia official.

It says Kia would bring Rio, Optima, Sorento, Carmoval and other vans to the Chinese market.

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