Gasgoo.com (Shanghai October 21) - On the eve of Beijing Hyundai's ninth anniversary, work on the joint venture's third factory has essentially been completed, the National Business Daily reported today. The site is expected to begin production early next year.

The factory (pictured above) will add 400,000 vehicles to Beijing Hyundai's production capability. After completion, the factory will help Beijing Hyundai to become the fourth Chinese venture to produce over one million vehicles per year.

Maintaining a consistent sales volume is Beijing Hyundai's key priority. In September, sales of the eighth generation Sonata (pictured below) exceeded 10,000 units. Over 40,000 Sonatas have been sold since the new model's introduction to China. "The new eighth generation Sonata will help develop the model mid- to high-class brand [for Beijing Hyundai]," General Manager Li Feng said.

Meanwhile, planning on Beijing Hyundai's fourth factory is already in the works. Mr. Li also added that information regarding the JV's new own brand will be released within the year.