Beijing Hyundai researching new own brand

Gasgoo.com (Shanghai March 29) - Beijing Hyundai has confirmed that it is currently doing research on developing a new own brand, auto.ifeng.com reported today. The news puts an end to any doubts that the joint venture would not follow competitors SAIC-GM-Wuling, Guangqi Honda and Dongfeng Nissan in establishing a new brand.

BAIC Group Chairman Xu Heyi (pictured) said that the company "has been considering [the topic of opening] own brands with its partners," elaborating that "Beijing Hyundai is currently undertaking the project." He added that he personally does not currently want to see an own brand established by BAIC's other JV, Beijing Benz. Mr. Xu refused to offer further details.

Beijing Hyundai General Manager Lu Zaiwan had previously stated that he helped that the JV would seize the opportunity to develop an own brand, adding that "I hope that Beijing Hyundai will invest the time and effort needed."

There is speculation that vehicles for the new brand will be built at Beijing Hyundai's recently opened third factory, which is currently responsible for production of the i30, ix34 and the Verna variant of the Accent.