Hyundai to set up commercial vehicle JV in China
(chinatrucks.com, Dec.22, 2009)Hyundai Motor Co said on Sunday it had signed an initial agreement to create a commercial vehicle joint venture with China's Baotou Bei Ben Heavy-Duty Truck Co Ltd with a total investment of $400 million.
The 50-50 venture with the Chinese truck maker will be launched next year, taking over Baotou Bei Ben's existing large truck business that has an annual capacity of 40,000 units, the South Korean carmaker said in a statement.
Hyundai will initially focus on heavy duty trucks with a sales target of 100,000 units in China by 2014 and gradually increase investment to expand its business to include the full line-up 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," Choi Han-young, vice chairman in charge of Hyundai's commercial vehicle division, said in the statement.
"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 told Yonhap news agency that Hyundai would differentiate with low-price, quality products in the Chinese market from competitors such as German truckmaker MAN and Volkswagen's Swedish unit Scania.
Hyundai was planning to enter U.S. commercial vehicle market within two to three years via a joint venture, before its foray into Europe, he was quoted as saying.
Views:0
Submit Your Requirements, We Are Always At Your Service.
- Hyundai Ships Massive Batches to Numerous Countries Worldwide in Early 2026 2026-02-11
- Hyundai Truck & Bus Secures 355-Unit XCIENT & MIGHTY Order in Middle East 2025-09-12
- Hyundai's XCIENT Fuel Cell Trucks Achieve Record of 10 M km in Switzerland 2024-10-28
- Hyundai and IVECO Present the First Fuel Cell Large Van at IAA 2022-09-20
- 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
- Foton, COSCO Shipping Move to Secure Capacity as China’s CV Exports Rise
- The 11th DISCOVERY TRUST Awards Successfully Held in Beijing, China
- Chinese Heavy Truck Makers Shift to Value-Driven Global Expansion
- Shandong Heavy Industry and Kazakhstan’s Karaganda Region Ink New Deal
- China’s Diesel Trucks are Shifting to Electric
- Indonesia’s State-led Firm Set to Purchase 320,000 Vehicles
- SANY Truck and Pony.ai to Mass-Produce Gen-4 Autonomous Trucks in 2026
- FOTON Boosts Local Manufacturing in South Africa
- Office Closure for National Day Holiday
- FORLAND Rolls Out Its 6.8 Millionth Vehicle
- China Heavy Truck Sales Fall to 73,600 Units in February
- China’s Medium-Duty Truck Sales Fall to 8,125 Units in February, 2026
- China’s February Light Truck Sales Fall 23% to 117,200 Units
- China’s Mini Truck Sales Rise 15% in February to 41,500 Units
- China’s Light Truck Market Rises 8% in January 2026 to 323,500 units
- China’s Pickup Sales Reach Five-Year January High as Market Momentum Builds
- Heavy Truck Sales Soar 46% to 105,400 Units in January 2026
- January Medium Truck Sales Hit 14,100, Up 33%
- China’s Truck Exports Top 1 Million Units for the First Time in 2025
- China Tractor Truck Sales Up 54% in Dec., 2025 Full-Year Sales 460,000 Units
