Hyundai and BAIC to invest $1.1bn in Beijing Hyundai Motor.

Automobile companies Hyundai and BAIC, agreed to invest $1.1bn in Beijing Hyundai Motor, a joint venture between Hyundai Motor Company and BAIC Motor, to produce and sell Hyundai vehicles in China. This capital injection, split equally between the two companies, will increase the joint venture's registered capital to $4bn. The investment aims to introduce products tailored to Chinese consumer preferences and expand exports to international markets.