HYMTF - Hyundai's China Rethink: Chongqing Factory Reportedly Sold Below Initially Listed Price | Benzinga
Hyundai Motor Company (OTC:HYMTF) has reportedly finalized the sale of its Chongqing factory in China, achieving a deal worth 1.62 billion yuan ($225 million).
This move comes as the South Korean automotive giant reassesses its operational strategy in China amid challenging market conditions.
The Chongqing facility was acquired by Chongqing Liangjiang District Yufu Industrial Park Construction Investment Ltd., a company supported by municipal government funds, reported Bloomberg.
The transaction marks a significant step in Hyundai’s ongoing ...