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.