DaimlerChrysler AG and Korea's Hyundai Motor Co. Ltd. are reportedly close to announcing a joint venture for commercial vehicles.
According to published reports, the companies will build up to 120,000 trucks and buses annually starting 2002. DaimlerChrysler officials said the joint venture has been under discussion since last summer, when DaimlerChrysler bought 10% of Hyundai, but some details still needed to be finalized. A German business weekly reports that the deal will be announced next week at a Brussels truck show.
Shortly after the first reports of such a deal surfaced last summer, Bering announced that it would remain the exclusive distributor of Hyundai commercial vehicles in the United States.
According to published reports, the companies will build up to 120,000 trucks and buses annually starting 2002. DaimlerChrysler officials said the joint venture has been under discussion since last summer, when DaimlerChrysler bought 10% of Hyundai, but some details still needed to be finalized. A German business weekly reports that the deal will be announced next week at a Brussels truck show.
Shortly after the first reports of such a deal surfaced last summer, Bering announced that it would remain the exclusive distributor of Hyundai commercial vehicles in the United States.
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