Beijing Hyundai targets 1 trillion yuan revenue

Beijing Hyundai Motor Company Corporation is expected to produce more than 10 million automobiles, and achieve accumulated revenue of 1 trillion yuan ($159 billion) by 2017, according to Xu Heyi, chairman of the company.

By the end of this year, the auto maker will have achieved an accumulated sales revenue of 393 billion yuan and produced more than four million automobiles, Xu said at the 2012 China Automobile Industry Development Forum organized by the Economic Daily on Thursday in Beijing.

This year marked the tenth anniversary of Beijing Hyundai, a joint venture between China's homegrown automaker Beijing Automotive Industry Holding Co Ltd and its South Korean partner Hyundai Motor.

Bai Xiaoqing, general manager of Beijing Hyundai, said the company will expand its sales scope and numbers by increasing its sales network to 1,000 in three years.