Hyundai Motor makes history with sales of a million in China

December 26, 2013 Leave a comment

Hyundai Motor makes history with sales of a million in China

Dec 26,2013

Hyundai Motor said yesterday annual sales from Beijing Hyundai, a joint venture with Beijing Automotive Group, have surpassed 1 million units, becoming the fastest auto brand to achieve that milestone in the Chinese market. Hyundai, Korea’s largest automaker, also said it is the first time it has ever sold more than a million cars in a single market in a year. Hyundai previously set a sales target for 2013 for 970,000 vehicles in China. Hyundai, which started doing business in China in 2003, said its localized models have led the sales increase, while expansion of its second and third plants in China also helped to boost sales. Hyundai said it would expand its dealership network in China to 1,000 by 2015 and focus on balancing sales growth and enhancing brand value over the next 10 years. Posco E&C gets $175 million Uzbekistan highway contract. Posco Engineering & Construction said yesterday it won a $175 million order from Uzbekistan to build a highway. The affiliate of steelmaker Posco said it secured part of the CAREC A380 project under Uzbekistan’s financial ministry in a competition with 13 multinational builders. Posco E&C said that it will be responsible for 85 kilometers (52.8 miles) of highway from Kishlak to the Gazil region in the next two years. The company in 2010 bagged a 91-kilometer highway contract that is also part of the CAREC A380 project.

Filed under Macro Trends

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a comment