Hyundai India to launch commercial vehicles this year
NEW DELHI (Reuters) - South Korea's Hyundai Motor Co plans to launch commercial vehicles in India within a year and is talking to local firms for a possible joint venture, a top official of the automaker's Indian unit said on Thursday.
"We have already shortlisted two firms and are close to selecting one. We will announce it shortly," H.S. Lheem, managing director of Hyundai Motor India, said at an annual auto show in the Indian capital.
Hyundai is in talks with bus body-building firms to launch buses first. It will import the chassis and get the partner to assemble buses.
"We will look to launch mid-size buses in the 25-seater category and large buses, initially," Lheem said. "Trucks will follow later."
Truck makers such as Volvo, Daimler and Nissan Motor Co are eyeing India and China, where rapid growth and infrastructure spend is boosting truck sales.
Sales of trucks and buses in India have risen by a fifth on average over the last three years.
Both Volvo and Daimler have tied up with local firms for joint ventures for bus body building.
TO EXPORT MORE CARS Continued...
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