Hyundai Capital Increases about 2.4 Billion to Expand Overseas Production Hyundai Motor Co. plans to increase this year by 10% to approximately US$2.4 billion in expenditure. A spokesperson for the company said that this expenditure will be mainly used to expand overseas production, such as China and the United States. At present, Hyundai Motor has two joint venture projects in China, namely Dongfeng Yueda Kia Motors Co., Ltd. and Beijing Hyundai Motor Co., Ltd. The reporter confirmed from Beijing Hyundai Motor Co., Ltd. that Hyundai Motor has increased its capital. It is still unclear how much of this $2.4 billion will be invested in Beijing Hyundai, but Beijing Hyundai will undoubtedly need a lot of funds this year because of the annual production capacity of 150,000 vehicles. The second-phase expansion project of Beijing Hyundai Motor is underway. In May this year, the second sedan factory with an annual output of 300,000 will also start construction.
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