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SOUTH KOREA: Hyundai agrees Vietnam assembly deal

By just-auto.com editorial team | 20 December 2004

Hyundai Motor Co. has signed an agreement with Vina Star Motors Corp to supply 3,300 mini-trucks to be assembled in Vietnam, a Hyundai spokesman told Reuters.

Under the deal signed last Wednesday, the Porter models would be supplied as complete knock-down (CKD) kits to be assembled and sold in Vietnam from next February, Jake Jang reportedly said.

"It's the first such deal with Vietnam," the spokesman told Reuters, noting Hyundai's similar CKD operations in Malaysia and Indonesia. "Production will be out of Vina's plant in Ho Chi Minh City." He could not give an estimated value of the venture.

Hyundai was also in talks with the Vietnamese automaker to supply Starex sports utility vehicles, he added, according to Reuters.