Parts Maker Hyundai Mobis To Open Transmissions Plant In China.

Hyundai Mobis, a unit of Hyundai Motor Group, said it will open its fourth Chinese plant in Beijing in the first half of 2004, to make 100,000 manual transmission units a year. Hyundai Mobis said it plans to invest a total of $75 million by 2006 to establish and expand the plant. The annual capacity of the new plant will be raised to 200,000 units by 2006, and Hyundai Mobis is targeting $83.8 million in sales from the plant in the same year, it added.

Transmissions from the new plant will be sold to Chinese units of Hyundai Motor and Kia Motor, Hyundai Mobis said. Hyundai Mobis currently has two module plants in Beijing and Ziangsu, and a car audio system plant in Shanghai.