Core Viewpoint - The Beijing Hyundai Chongqing plant has been taken over by Changan Automobile, which will produce the Deep Blue brand of vehicles in the future [1][2]. Group 1: Company Overview - The Beijing Hyundai Chongqing plant was established in 2017 with a total investment of 7.75 billion yuan and a designed production capacity of 300,000 vehicles [1]. - The plant's production included models such as Reina, Fista, and ix25, contributing to a total planned annual production capacity of 1.65 million vehicles across all Beijing Hyundai facilities [1]. Group 2: Market Performance - After reaching a record annual sales of 1.12 million vehicles in 2014, Beijing Hyundai's sales began to decline due to increased competition from Japanese and German brands, as well as rising domestic brands [2]. - Sales dropped to 1.06 million in 2015, falling below 1 million for the first time in 2017, and continued to decline, with sales dropping below 500,000 in 2020 and below 300,000 in 2022 [2]. Group 3: Plant Status and Transition - The Chongqing plant was forced to cease operations by the end of 2021 and was put up for sale multiple times, eventually selling for 1.62 billion yuan at the end of 2023 [2][4]. - Prior to the Chongqing plant's closure, other Beijing Hyundai plants had also ceased operations, with the first two plants in Beijing already transferred to other companies [4]. Group 4: New Developments - Deep Blue, a mid-to-high-end electric vehicle brand under Changan Automobile, has seen significant growth, with sales exceeding 260,000 units from January to October 2023, marking a 57.1% year-on-year increase [4]. - The Chongqing plant is considered a suitable site for Deep Blue's production expansion due to its proximity to Changan's headquarters and increasing market demand [4].

Core Insights - Changan Automobile's Deep Blue Automotive has confirmed plans to take over the Beijing Hyundai Chongqing plant, marking a significant shift in the plant's future as it transitions to support the growing demand for electric vehicles [2][4] - The Chongqing plant, which was once a flagship facility for Beijing Hyundai, has faced challenges due to declining sales and was officially closed in 2022 after only four years of operation [3] - The plant was sold for 1.62 billion yuan, significantly lower than its initial construction cost of 3.684 billion yuan, reflecting the difficulties in the automotive market and the shift towards new energy vehicles [3] Company Overview - Deep Blue Automotive is positioned as a key player in Changan Automobile's new energy strategy, having achieved retail sales of 206,000 units in the first ten months of 2025, with several models surpassing sales of 10,000 units [4] - The acquisition of the Chongqing plant will alleviate production capacity constraints that have previously hindered Deep Blue Automotive's growth, particularly impacting the S07 model's delivery [4] - The integration of the Chongqing facility will enable Deep Blue Automotive to establish a collaborative production network across multiple bases in Nanjing, Beijing, and Chongqing, supporting its ambitious goal of delivering 400,000 units by 2025 and launching 30 new models over the next five years [4]