Beijing Hyundai Motor Co., Ltd. is an automobile manufacturing company headquartered in Shunyi, Beijing, China, and a joint-venture between BAIC Motor and Hyundai Motor Company. Established in 2002, it manufactures in Shunyi District, a satellite city of Beijing, producing Hyundai-branded automobiles for the Chinese market. In 2016, the company was reported as selling nearly 1.8 million vehicles. In May 2002, Hyundai Motor and the Beijing Automotive Group signed a memorandum of understanding with the aim of creating a joint venture based around an existing Beijing factory. Hyundai begun to improve the plant's installations, and on 18 October 2002 an equally owned joint venture between the two companies was established. While it was not the first arrangement between a foreign and a domestic automaker, Beijing Hyundai was the first to be approved by the Chinese government after its entry into the World Trade Organization. The joint venture initially expanded its production output through importation of key parts from South Korea and the creation of an integrated, Korean-owned supply network inside China. As of 2012, average per year production since 2003 stands at roughly 370,000 vehicles, but yearly output has continued to grow over the lifetime of the project. More information...
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