Hyundai Motor to increase production of commercial vehicles
2015-02-23
Hyundai Motor, the nation’s top automaker, announced Monday that it would invest 2 trillion won ($1.8 billion) in raising its annual production capacity of commercial vehicles to 100,000 units - a 54 percent increase from the current 65,000 units - by 2020.
“About 80 percent of the investment will be allocated to research and development, while the remaining 20 percent will be spent on expansion of the commercial auto production line in Jeonju, North Jeolla Province,’’ the company said in a press statement.
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A Hyundai Motor Santa Cruz crossover truck concept vehicle is displayed during the 2015 Detroit motor show last month. (Bloomberg)
By Seo Jee-yeon (jyseo@heraldcorp.com)
http://www.koreaherald.com