While Hyundai usually produces automobiles to be sold in China locally, it ships high-end models from South Korea.
We drive a Hyundai!
Posted on 08/13/2015 10:28:05 PM PDT by TigerLikesRooster
Hyundai's damage from Chinese explosion estimated at 160 bln won
2015/08/14 09:26
SEOUL, Aug. 14 (Yonhap) -- South Korea's top carmaker Hyundai Motor is estimated to have lost 160 billion won (US$136 million) from huge explosions in China's northeast port city of Tianjin, industry watchers said Friday.
China Central Television (CCTV) said the blasts involved a shipment of explosives at the Ruihai warehouse in Tianjin, and occurred around 11:30 p.m. on Wednesday. The exact cause was not immediately known.
Hyundai had parked around 4,000 automobiles at the site, including Genesis and Equus luxury sedans.
While Hyundai usually produces automobiles to be sold in China locally, it ships high-end models from South Korea.
"It will take quite a long time to find out the detailed damages (incurred from the explosion)," a Hyundai Motor official said. "All automobiles damaged from the explosion will be covered by our insurance, so there are no significant losses."
Other carmakers are also estimated to have suffered damages from the explosion, including Germany-based Volkswagen which lost 2,750 automobiles, sources said.
(Excerpt) Read more at english.yonhapnews.co.kr ...
P!
BS
Thatz lost sales and brand loyalty times 1.5 buyers
I’d be wee wee’d off!
Fascist company’s operating in Fascist China deserve what they get..
Makes me wonder how many of those Chinese-built Equus and Genesis models were destined for sale in China, or maybe headed overseas.
Daewoo has a huge port operation in the blast zone, as well.
Interesting that the article does not mention the number of people killed or injured. It just describes the property loss.
While Hyundai usually produces automobiles to be sold in China locally, it ships high-end models from South Korea.
We drive a Hyundai!
I’m pretty sure the damage will buff out!
![](http://i.imgur.com/6Tc5eoZ.jpg"; "”source:")
This isn’t like the West, Texas mushroom cloud explosion, back off all media and cancel the investigation of the cause of the fire that caused the explosion. Nah, we’re not like China yet.
Money and useless consumer products are that matters in that part of the world.
>>Makes me wonder how many of those Chinese-built Equus and Genesis models were destined for sale in China, or maybe headed overseas.
The story says that low-end Hyundais sold in China are made in China, but high-end cars like the Genesis and Eqqus are shipped from South Korea. They weren’t for export to another place.
I had a Genesis. They are built in SK.
[Pure Speculation] If the explosions were derived from weapons storage, then it could very easily be a facility with some ownership by the "Peoples Liberation Army" (PLA) or (being a port city) the "Peoples Liberation Army Navy" (PLAN). Such would make for rather dicey insurance recovery and legal assignment of responsibility!
FYI: WIRED Magazine has what the explosions looked like from weather satellites in the area. Would be interesting albeit unlikely to see what better resolution space cameras captured.
“All automobiles damaged from the explosion will be covered by our insurance, so there are no significant losses.”
That’s not what the insurance company is saying....
Chinese military runs many front companies. It is likely that some of them have operation there.
“C’mon down to your local Hyundai Dealer for our once-in-a-lifetime Crazy Autumn Blow-Out Sale!...”
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