Recently, Hyundai announced a strategic alliance with DaimlerChrysler covering many areas of cooperation, including a commercial vehicle joint venture. Hyundai said that media reports did not take into account Hyundai's distribution agreements in the United States or other parts of the world, due to the early stages of discussions between the companies. President D.J. Kim of Hyundai said that he looked forward to Bering's continued success in the United States and that the announced strategic alliance with DaimlerChrysler did not affect Hyundai's relationship with Bering.
Bering made the announcement following a meeting in Korea, July 1, between senior executives of Hyundai and Bering.
"We are working closely with Bering to help them prepare new products in the future," said Kim. Last month, Bering, with the support of Hyundai, initiated a lease program through Ford Motor Credit to continue strong sales momentum for this year.
In addition to its distribution of Hyundai's commercial vehicles under the Bering name, the company is completing its manufacturing and assembly facility in Front Royal, Va., with a planned capacity of 20,000 vehicles a year.
Currently Bering distributes commercial vehicles through its dealership network in 24 states, with more than 46 full-service dealer locations. Bering combines Hyundai's commercial vehicle platforms with U.S. components from major companies such as Caterpillar and Cummins Engines and Allison and Eaton Transmissions.