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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World S.Korea, China agree 400-million-dollar auto deal AFP - Sunday, December 20 Send IM Story Print S.Korea, China agree 400-million-dollar auto deal SEOUL (AFP) - – South Korea's top automaker Hyundai Motor said on Sunday it and China's Baotou Bei Ben Heavy-Duty Truck had agreed to launch a 400-million-dollar joint venture in China next year. The evenly-invested joint venture will take over the Chinese firm's large truck manufacturing sector under the deal signed in Seoul on Saturday, it said. The combined unit will increase production from the current 40,000 units a year to 100,000 units a year by 2014, Hyundai Motor said in a statement. Hyundai said the deal would help it better meet customers' demand in the world's largest and fastest-growing market for commercial vehicles. "Entering China's commercial vehicle market is essential in establishing Hyundai's reputation as the most comprehensive car manufacturer in the worlds largest auto market," said Hyundai Motor Vice Chairman Choi Han-Young. Recommend Send IM Story Print Related Articles Bahrain's Ithmaar bank board replaces chairman - 1 hour 15 minutes ago RBS whittles Sempra suitors down to last 3 - paper - 1 hour 20 minutes ago Israel's Discount plans rights offering -report - 1 hour 32 minutes ago MIDEAST STOCKS- Dubai leads Gulf losses; slow regional trading - 1 hour 38 minutes ago Hyundai Motor announces China truck venture AP - 1 hour 50 minutes ago News Search Top Stories London Stock Exchange set to take over rival: reports Wall Street hesitates in face of new economic realities Eurostar services cancelled after travellers stranded Pope moves wartime pontiff closer to sainthood Pope decrees beatification of Poland's 'Solidarity chaplain' More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Dwindling roster of sponsors for Tiger Woods 'Avatar' director Cameron gets Hollywood star Wall Street hesitates in face of new economic realities Tiger's wife Elin seeking divorce: reports Brazilian confesses to sticking needles into two-year-old More Most Viewed » Tiger's wife Elin seeking divorce: reports Virgin unveils spaceship to offer space tourism Brazilian confesses to sticking needles into two-year-old Tiger Woods' girlfriend apologizes in TV interview Woods' mother-in-law rushed to hospital More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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