Hyundai loses Billions selling car factories after sales collapse nearly 80%

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On January 17, Hyundai disclosed that Beijing Hyundai had finalized the sale of its Chongqing factory to Chongqing Liangjiang New Area Yufu Industrial Park Construction Investment Co., Ltd. for 1.62 billion yuan (approximately 226 million USD). This transaction, completed at the end of the previous year, reflects a price significantly lower than the factory’s initial listing value from the previous year, according to reports from Yonhap News Agency.

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