Hyundai ditches China plant to focus on India, Indonesia
2024-01-18
Hyundai Motor Group said Wednesday it has sold its Chongqing plant in China to the region’s industrial park developer Yufu Industrial Complex Construction Co. for approximately 1.62 billion yuan ($290 million), as part of a global operational restructuring aimed at shifting focus from volatile markets to expanding in growing Asian countries like India and Indonesia.
The sale comes in the wake of the company's dwindling market share ...
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