Hyundai truck venture set to begin output
Hyundai Motor Co. will start making heavy-duty trucks in China as soon as midyear, joining rivals such as Germany's Daimler AG and Sweden's Volvo AB in competing for a share of China's huge market for big trucks.
Hyundai will build Trago cargo and dump trucks at a 160,000-vehicle capacity plant in Sichuan province opening before July at the earliest, the automaker said in a statement on Thursday.
China's commercial vehicle market has been growing steadily with increased urbanization and infrastructure investment.
Sales of medium- and heavy-duty trucks last year rose 21 percent from 2012 to 770,000 vehicles, according to the China Association of Automobile Manufacturers.
Hyundai already makes passenger cars in China, and last year established a 50-50 venture with Chinese commercial vehicle maker Sichuan Nanjun Automobile Group, with whom it is building the plant in the Sichuan city of Ziyun.
Hyundai aims to become a significant commercial vehicle maker with annual sales of 400,000 units by 2020, reached by expanding lineups and production in China, Turkey and the United States.
Rival Daimler set up a joint venture in 2012 with China's Beiqi Foton Motor Co. to make Auman heavy trucks. Last year, Volvo formed a venture with the commercial vehicle unit of Dongfeng Motor Group Co.
China's commercial vehicle market has been growing steadily with increased urbanization and infrastructure investment.
Sales of medium- and heavy-duty trucks last year rose 21 percent from 2012 to 770,000 vehicles, according to the China Association of Automobile Manufacturers.
Hyundai already makes passenger cars in China, and last year established a 50-50 venture with Chinese commercial vehicle maker Sichuan Nanjun Automobile Group, with whom it is building the plant in the Sichuan city of Ziyun.
Hyundai aims to become a significant commercial vehicle maker with annual sales of 400,000 units by 2020, reached by expanding lineups and production in China, Turkey and the United States.
Rival Daimler set up a joint venture in 2012 with China's Beiqi Foton Motor Co. to make Auman heavy trucks. Last year, Volvo formed a venture with the commercial vehicle unit of Dongfeng Motor Group Co.
