20 June 2013, Thursday
New York
New York

HYUNDAI MOTOR IN COMMERCIAL VEHICLE DEAL WITH TURKEY'S KARSAN

  • NewArticle
  • Published:28 Haziran 2011, Salı
  • Updated:28 Haziran 2011, Salı

said on Tuesday it had agreed to jointly produce commercial vehicles in with the country's light commercial vehicle maker , without providing further details.

The agreement comes after Hyundai signed a $557 million joint venture deal with Chinese commercial vehicle maker Sichuan Nanjun Automobile Group in April as part of a move to raise its commercial vehicle sales in China to 160,000 units by 2015, more than double the 2011 target of 73,000 units.

Hyundai, the world's No.5 auto group along with its affiliate , said in a statement it expected its recent deals to lift its commercial vehicle sales to 300,000 units in 2015, up from an estimated 82,000 units for 2011.