According to recent foreign media reports, Beijing Hyundai will manufacture electric vehicles for ARCFOX. The two parties are currently discussing the details of the collaboration. If production goes smoothly, it will be Hyundai's first time producing for an external brand through a partnership. However, this news hasn't been officially confirmed by Beijing Hyundai, labeling it as "fake news."
An insider stated, "Beijing Hyundai will be responsible for design, production, and quality control. The new vehicle will be produced in the Beijing factory. This collaboration indicates that Hyundai has not given up on the Chinese market."
Previously, Beijing Hyundai had set up five factories in China: three in Beijing Shunyi, one in Hebei Cangzhou, and another in Chongqing, with an annual production capacity of 1.65 million vehicles. At its peak, Beijing Hyundai's sales were thriving, with 1.142 million vehicles sold in 2016, achieving a million production and sales at an incredibly fast pace domestically.
However, starting from 2017, Beijing Hyundai's sales began to decline. In 2021, the first factory located in Shunyi was sold to Ideal Motors. In June of this year, the CEO of Hyundai Motor Group, Chung Eui-sun, announced at an investor relations event in Seoul that one of the factories in China would be closed, and two others would be sold. This implies that Beijing Hyundai might eventually retain only one factory.
