Located in Linhe Industrial Development Zone of Shunyi District, Beijing, Beijing Hyundai Motor Co., Ltd is a joint venture co-founded by Beijing Motor Investment Company and Korea Hyundai Motor Company in October 2002 with registered capital of US$1.2 billion. It specializes in designing, development, manufacturing and marketing of sedans, RVs, trucks, engines and accessories.

Beijing Hyundai, a Sino-foreign joint venture based in Beijing, has witnessed rapid development since it was established in 2002. [File Photo]

Beijing Hyundai has witnessed rapid development since it was established. The company is now one of the superpowers in the medium and high-end vehicle markets, having staged 12 models during the past ten years, including Elantra, Tucson and Sonata. It now has three plants in operation, with 10,000 employees.

With great support from the Beijing Municipal Government, the first plant of Beijing Hyundai began production in November 2002. By February 2003, the company was capable of producing 50,000 vehicles annually. It sold 52,000 vehicles with total revenue of 8.8 billion yuan (US$1.4 billion) in 2003. The company sold one million vehicles by the end of 2008.

In 2011, the company sold 739,800 vehicles, with sales revenue of 72.3 billion yuan (US$11.5 billion), a 14.9 percent increase, while the profits hit 8.9 billion yuan (US$1.4 billion), up by 26.3 percent. By August 2012, the company had made more than 3.8 million vehicles, and it's expected that it will have sold more than 4 million vehicles by the end of 2012, with accumulative sales revenues of 390 billion yuan (US$61.9 billion).

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