The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant. The complex opened in 2017 with robots and other equipment to make gasoline-powered cars. Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it. Unmown grass at the site has grown knee high.
Manufacturers like BYD, Tesla and Li Auto are cutting prices to move their electric cars. For gasoline-powered vehicles, the surplus of factories is even worse.
/PRNewswire/ PROPOSAL TO LEONARDO DA VINCI Shanghai Science and Art Exhibition / The 7th International Intermedia Art Festival kicked off on October 28,.