Hyundai enters China's commercial vehicle market

Hyundai Motor has embarked on a foray into China’s commercial vehicle market in partnership with a Chinese firm. Korea’s top automaker said that it held a signing ceremony for the supply of chassis and parts for buses to an affiliate of Xiamen Automotive Industry Corp. Under the agreement, Hyundai will supply bear chassis and power trains for 17,100 commercial vehicles, including those for County-class (small), Aero Town-class (mid-size), and Aero Express-class (full size) buses to the Chinese concern over the next five years. The Chinese firm is one the largest bus makers in China, selling 25,000 vehicles per year. The company will use Hyundai’s chassis and power trains in vehicles of its own brands, Hyundai said. Meanwhile, Hyundai developed three commercial diesel engines, including small to mid-size (four liter class), mid-size (six liter class), and large size (10 liter class) engines last October through its own technology, completing a full line-up of commercial diesel engines. (July 14, 2008)