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Korean, Chinese Auto Makers to Set Up Joint Venture

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Korean, Chinese Auto Makers to Set Up Joint Venture

by CFO Innovation Staff, 21 December 2009
topics:
Finance and Banking
tags:
joint venture manufacturing
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To meet rising demand for commercial vehicles, Hyundai Motor Co., a South Korean car maker, has revealed that it will set up a joint venture next year with  Chinese commercial vehicle manufacturer Baotou Bei Ben Heavy-Duty Truck Co., reports the Wall Street Journal.

 

The newspaper says that two auto makers will invest a total of $400 million to set up a 50-50 joint venture.

 

"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," Choi Han-young, Hyundai's vice chairman, told the Journal.
 

Original Article URL: 
Hyundai to Set Up $400 Million Joint Venture With Chinese Car Maker
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CFO Innovation Staff
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