SOUTH KOREA: Hyundai Motor signs China JV
Hyundai Motor and its Chinese partner, Beijing Automotive Industry Holding Co., have signed a contract to develop a new 50-50 auto manufacturing venture, Beijing Hyundai Motor. In the long term it is planned that the venture will expand its annual output capacity to 200,000 units in 2005 and 500,000 units in 2010.
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