Hyundai to sell commercial vehicles in China
(chinatrucks.com, Jan.12, 2010)Seoul, South Korea – Hyundai Motor Company, which recorded enormous passenger car sales gains in China in 2009, has announced a joint venture in commercial vehicles in the country.
Hyundai created the venture with Baotou Bei Heavy-Duty Truck Company, a Chinese commercial vehicle manufacturer. Under the agreement, each company will invest a total of US$400 million to establish a 50/50 joint venture in 2010 that will take over Baotou Bei Ben's existing large truck business, which has a capacity of 40,000 units a year.
The venture will initially launch a refreshed Baotou Bei Ben model, and then launch a brand-new model by 2012 with input from Hyundai's modern technology and equipment. The joint venture also enables Hyundai to bypass building a construction facility.
Hyundai will initially focus on heavy-duty trucks, with a sales target of 100,000 units in China by 2014. The company will gradually increase investment to expand into a full line of commercial vehicles.
"Entering China's commercial vehicle market is essential in establishing Hyundai's reputation as the most comprehensive car manufacturer in the world's largest auto market," said Han-Young Choi, Hyundai's vice-chairman. "Our business in China will play a pivotal role in helping us achieve our global sales target of 200,000 units in commercial vehicles by 2013."
Views:0
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration 2022-03-09
- Hyundai Reveals World’s First Hydrogen Fuel Cell Heavy-duty Truck at CIIE 2020-11-06
- Hyundai Targets 15% of European Hydrogen Truck Market by 2030 2020-07-24
- Hyundai Wins 2020 Truck Innovation Award 2019-12-19
- Hyundai Showcases NEPTUNE Fuel Cell Truck Concept at CIIE 2019-11-14
- Hyundai Motor Company and Cummins to Collaborate on Hydrogen Fuel Cell Tech 2019-09-29
- Sichuan Hyundai Launches New Version of Mighty Light Truck 2019-08-19
- WABCO Signs Deal with Hyundai to Supply Advanced Techs for New Medium Trucks 2018-11-12
- Hyundai Motor Cuts Truck Production to Cope with Falling Korea's Demand 2018-11-01
- IAA 2018: Hyundai Signs MoU for Rolling out Fuel Cell Electric Trucks 2018-09-21
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
