Sichuan Hyundai Motor Company Officially Established

www.chinatrucks.com: On Jan. 8th 2013, Sichuan Hyundai Motor Company was officially set up in Sichuan Province. The related leaders in Sichuan Province attended the ceremony and expressed their congratulations on it. Sichuan Hyundai, which will be based in the city of Ziyang in Sichuan, will also produce clean energy vehicles, including electric and gas-powered vehicles, as part of its the mid- and long-term plan, it said.

Sichuan Hyundai Motor Company is officially established

Sichuan Hyundai Motor Company is the a commercial vehicle joint venture set up by South Korea's Hyundai Motor and Sichuan Nanjun Automotive Group. Each have a 50 percent stake in the joint venture. With a total investment of 1.8 billion Yuan, the joint venture aims to develop, manufacture and sell commercial vehicles, engines and other vehicle parts. In 2013, it plans to aims to have an production and sales volume of 60,000 commercial vehicles.

It will invest the accumulative amount of 10 billion Yuan to set up the world-class commercial vehicle production base in Ziyang City. After the base completed, it is estimated to have an annual production capacity of 700,000 commercial vehicles with the production value over 100 billion.

With an initial investment of 5.4 billion Yuan (Among them, 3.6 billion Yuan on developing and construction) on commercial vehicles, the new factory will be finished and put into production by June 2014. The joint venture aims to have an annual production capacity of 160,000 commercial vehicles, 10,000 buses and Euro Ⅳ standard heavy engines. By 2017, it aims to have an annual production capacity of 170,000 commercial vehicles. The company is targeting a long-term annual production capacity of 700,000 units by 2020.

The Hyundai Motor Company, based in the Republic of Korea, is the world's fifth-largest automotive company and has car plants in several countries, including the United States, China and Russia. The company currently has a passenger car joint venture in Beijing.

Sichuan Nanjun, China's 13th-largest automotive company, mainly produces trucks, buses and auto parts.

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