Beijing Hyundai

Beijing Hyundai Motor Company is an automobile manufacturer headquartered in Shunyi, Beijing, China, set up as a joint venture between BAIC Motor and Hyundai Motor Company to build Hyundai-branded cars for the Chinese market. Hyundai and the Beijing Automotive Group signed a memorandum of understanding in May 2002 to base a venture on an existing Beijing factory, and an equally owned joint venture was established on 18 October 2002. It was the first foreign and domestic pairing approved by the Chinese government after the country joined the World Trade Organization. Sales climbed to more than a million vehicles a year by 2014 and peaked at 1.14 million in 2016, then fell sharply amid competition from Chinese brands and the boycott that followed the 2016 to 2017 THAAD dispute, reaching 168,828 in 2024. The company sold its first Beijing factory to Li Auto in 2021 and its Chongqing plant in 2024.