Hyundai Motor’s sales plummeted, and it intends to sell its Beijing factory. Xiaomi and Ideal may take over the car manufacturing business

Hyundai Motor, which has had poor performance in recent years Group or preparation The second plant in Beijing, which produces the Sonata, Avante and Tucson SUVs, is up for sale.

It is reported that Hyundai Motor Group is negotiating the sale of its Beijing factory with several Chinese electric vehicle manufacturers, including Xiaomi.

On September 1, Xiaomi Motors officially completed its business registration, which means that Xiaomi has officially entered the electric vehicle industry. Since then, Xiaomi executives and officials have repeatedly released news about personnel recruitment and corporate acquisitions, showing that it is making good progress in talent recruitment and technology reserves. Xiaomi's headquarters is located in Beijing, and its reason for acquiring Hyundai's second Beijing factory is also very reasonable.

Hyundai Motor, South Korea's largest automobile group, has long performed poorly in the Chinese market.

In 2020, Hyundai Motor sold 660,000 vehicles in China, suffered a loss of 2 trillion won (about 11.3 billion yuan), and its market share fell to 3.5%. In comparison, in 2016, the Hyundai brand sold 1.79 million vehicles in China.

As sales continue to decline, Hyundai Motor is making personnel adjustments in China, and more than 20 managers will be transferred back to South Korea. However, Hyundai Motor Group said it will not give up the Chinese market, which has an annual sales volume of 25 million vehicles, and will focus on SUVs and luxury models in the future.

Earlier, there were reports that Ideal Auto would take over Beijing Hyundai's first factory, which was denied by the official. However, Ideal Auto later released recruitment information for corresponding positions in the Beijing factory, making the accuracy of the news confusing again.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.