Hyundai to foray into commercial vehicles segment
New
Delhi,
Jan
13:
Country's
second
largest
car
manufacturer
Hyundai
Motor
India
Ltd
(HMIL)
said
it
will
foray
into
the
commercial
vehicles
segment
within
a
year
and
is
in
talks
with
local
firms
for
a
possible
joint
venture.
''We have short listed two partners and will start the mass production of buses in this year followed by trucks later,'' company MD Heung Soo Lheem told reporters at Auto Expo here. The wholly-owned subsidiary of South Korea's Hyundai Motors Company HMIL will supply the chasiss, whereas the local partners will be responsible for body material and assembling.
''Initially the company will launch mid-size buses with 22-25 seat and will move on to big-size production later,'' he said.
The company also plans to roll out small-size to heavy-duty trucks later, he added.
Ashok Leyland had yesterday launched its iBus at the Expo and is eyeing the Delhi Transport Corporation tender for low-floor buses in the capital.
The sales of buses in the country 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.
UNI