Beijing Hyundai is to launch new brand

Beijing Hyundai chairman Xu Heyi reportedly disclosed the company will launch a new brand excludes the brand "Hyundai" in 2008. The brand is possessed by the JV.

Xu Heyi announced the news at the ceremony on which Hyundai technology R&D centers officially was put into operation in Beijing. The technology center is co-established by the Beijing Hyundai and South Korea's Hyundai. It is reported that Beijing Hyundai will invest 510 million yuan to launch the new brands.

In 2006, Beijing Hyundai total sales were 261,800 units, and became the fifth largest car manufacturer in China. Currently, Beijing Hyundai has 350 franchised dealers and 100 maintenance stations all over the country. Xu believed that the sound and extensive sales network will lay the foundation of Beijing Hyundai brand new brand.