SEOUL, May 10: South Korea’s Hyundai Motor is considering building a fourth car plant in China as it seeks to increase production overseas to counter rising costs at home, due to a firm local currency and labour issues, its vice chairman said on Friday.
‘We expect our capacity in China to become constrained by 2015 and 2016 … And are considering the western part of China for expansion,’ Hsueh Yung-hsing told reporters.
Hsueh also said construction of a third China auto plant by Hyundai’s sister firm, Kia Motors, would be brought forward by two months and would be completed in February 2014.
(AGENCIES)
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