May 10, 2013 / 2:51 AM / 5 years ago

Hyundai Motor considers fourth China plant-vice chairman

SEOUL, May 10 (Reuters) - South Korea’s Hyundai Motor is considering building a fourth car plant in China as it seeks to increase production overseas to counter rising costs at home, due to a firm local currency and labour issues, its vice chairman said on Friday.

“We expect our capacity in China to become constrained by 2015 and 2016 ... and are considering the western part of China for expansion,” Hsueh Yung-hsing told reporters.

Hsueh also said construction of a third China auto plant by Hyundai’s sister firm, Kia Motors, would be brought forward by two months and would be completed in February 2014. (Reporting by Hyunjoo Jin; Writing by Miyoung Kim; Editing by Paul Tait)

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