Heavy-duty trucks to be made through South Korea
December 21,2009
(chinatrucks.com, Dec.21, 2009)Hyundai Motors of South Korea has agreed to a joint venture with the Chinese Baotou Bei Ben Heavy-Duty Truck company.
As part of the deal, Hyundai will have to agree to a US$400-million joint venture in China next year.
Hyundai agreed to a 50:50 stake to take over the Chinese firm's large truck manufacturing sector to increase production from the current 40,000 units a year to 100,000 units a year by 2014.
The South Korean company said the deal would help it move into the world's largest and fastest-growing market for commercial vehicles and establish its reputation as the most comprehensive vehicle manufacturer in the world's largest auto market.
Source : Chinatrucks.com
Editor : Vivian
Views : 5887
Tags : Beiben Heavy-duty trucks
