Hyundai names new China head after slide in sales
Hyundai Motor appointed a new chief for its China operations after payment disputes with vendors resulted in temporary shutdowns last month at four of its factories in the automaker’s biggest market. Tao Hung Tan replaced Chang Won-shin as the chief executive officer of Beijing Hyundai Motor starting September 1, the Seoul-based company said in an email Monday, without elaborating on the reasons for the change. Hyundai Motor’s joint venture with BAIC Motor in China has five factories, of which one isn’t operational yet. One of the vendors suspended delivery of fuel tanks, citing payment delays, causing the brief output disruptions in August.