Changan Takes Over Former Hyundai Factory in Chongqing
Automobile Changan has taken over a former Beijing Hyundai factory located in Chongqing, China. The move is aimed at boosting production capacity for its Deepal brand vehicles. This strategic acquisition comes as Changan strives to meet ambitious sales targets while facing limitations in current manufacturing capabilities.The change of ownership was initially reported by The Economic Observer and has since been confirmed by Deepal. By the end of October, new logos were already installed at the facility, although production hasn't started yet. This shift is part of Changan's growth strategy, with a goal to produce three million vehicles in 2025 compared to just over two million last year.Beijing Hyundai, a joint venture between Hyundai and BAIC, opened this plant in Chongqing back in 2017. ...