Hyundai JV for trucks, buses
Hyundai Motor Co recently signed an agreement with Ziyang Nanjun Automobile Co to establish a 3 billion yuan joint venture and make commercial vehicles in Sichuan province.
Both partners will hold equal shares in the planned venture, which is expected to produce and sell 200,000 Hyundai buses and trucks by 2013.
Ziyang Nanjun Automobile Co is a private manufacturer making mostly buses and light-duty trucks. Last year it sold 74,000 vehicles, ranking 12th among commercial vehicle makers in China.
