Chinese truck venture
HYUNDAI Motor Company has already announced it will start selling trucks in Australia this year and has plans to build trucks in China. The South Korean giant says it will launch a joint venture to take advantage of the emerging market and plans to produce 100,000 trucks in China by 2014. It stated last week it had reached an initial agreement with Baotou Bei Ben Heavy-Duty Truck, a Chinese commercial vehicle producer that currently builds 40,000 trucks a year. Hyundai said the venture would release a Baotou Bei Ben truck soon, and a vehicle with some input from its own engineers would begin production in 2012. It said it would initially concentrate on heavy-duty trucks, but also plans to produce trucks for lighter duties in China.