Hyundai plans to raise its worldwide production capacity (including Kia) to 6.5 million a year by 2012, company sources told The Nikkei [sub]. To put that into perspective: In 2009, the Hyundai/Kia chaebol sold 4,645,776 cars. To put it further into perspective: GM sold 6.5m cars worldwide in 2009. Here is the expansion blueprint:
- Kia will expand annual capacity at its U.S. plant in Georgia to 150,000 cars before the end of this year. Expansion can go up to 300,000 units within several years.
- Hyundai will build a third factory in China, adding 300,000 cars to the 600,000 cars a year capacity at two Beijing plants.
- Hyundai plans to open plants in Russia and Brazil.
- Hyundai plans to raise output capacity at its plant in the Czech Republic.
- Kia Motors will boost production in Slovakia.
Hyundai/Kia is currently the world’s fifth-largest car maker by market share. By the end of the year, the production ranking will most likely be #1 GM, #2 Toyota, #3 Volkswagen, #4 Hyundai, #5 Ford. Getting into the top 3 will be a bit harder.