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Hyundai and Kia are slashing production in China amid diplomatic tensions

from Fortune

South Korea's Hyundai Motor and Kia Motors have slashed vehicle production in China, people familiar with the matter told Reuters, amid diplomatic tensions and competition from local brands. China, the world's biggest auto market, accounted for over a quarter of the pair's 2016 overseas sales but their March sales there were hit by anti-Korean sentiment and competition from local automakers like Geely Automobile Holdings. more

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