Hyundai Motor Co. reportedly is to invest $1.3 billion in its trucks and buses business over the next five years, following the end of its DaimlerChrysler AG alliance.
Go deeper with GlobalData
Reuters noted that DaimlerChrysler said early this month it would sell its 10% stake in Hyundai – worth $1 billion – and end a strategic alliance that was set up to jointly produce commercial vehicles and engines.
“Hyundai plans to spend 1.55 trillion won by 2008 and 2.8 trillion won by 2013 to make its commercial vehicle operations competitive,” Internet news provider Edaily reported, quoting Hyundai, according to Reuters.
The money reportedly is earmarked for engine development, upgrading production capacity and research and development.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
