On the outskirts of Chongqing, western China’s largest city, sits a huge symbol of the country’s glut of car factories.
The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant.
Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it.
“It was all highly automated, but now, it is desolate,” said Zhou Zhehui, 24, who works for a rival Chinese automaker, Chang’an, and whose apartment looks down on the former Hyundai complex.
China has more than 100 factories with the capacity to build close to 40 million internal combustion engine cars a year.
Persons:
”, Zhou Zhehui
Organizations:
Hyundai
Locations:
Chongqing, China’s, China