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Hyundai breaks ground on new plant in Beijing April 18, 2006

South Korean car company Hyundai has begun work on a one billion dollar manufacturing plant in Beijing, its second in the region.

When mass production begins in April 2008, Hyundai says the new plant, which also features an R&D center, will double its production capacity in the area giving it a solid base from which to challenge China’s automotive leaders and with which to rapidly further expand its local operations.

Beijing secretary Liu Woo Chi observed: “Over the past three years Beijing Hyundai has proven itself not only to be the most exemplary Korean-Chinese joint venture company but the showcase joint venture company in China. With this ground breaking ceremony, it is my hope that Beijing Hyundai grows to become the leader of the Chinese auto industry.”

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