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SEOUL -- Hyundai Motor set up a joint venture plant in Algeria to produce trucks and buses. The plant with an initial annual capacity of about 6,500 units will start production in 2020 with engines and key components shipped by the South Korean auto company.
Hyundai said in a statement that it has signed an agreement with its Algerian partner, Global Group, in a ceremony Monday in Algiers to establish the new plant in Batna.
"The joint venture will help Hyundai Motor to better serve Algerian customers with products and services that are specifically developed to meet their needs," Choi Don-ho, head of Hyundai's commercial vehicle export division, was quoted as saying.
Hyundai said it would strengthen its sales and customer services network through the joint venture. This year, the company is expected to sell 6,000 units or 51 percent of total commercial vehicle sales in the North African country.
Lim Chang-won Reporter cwlim34@ajunews.com
Lim Chang-won cwlim34@ajunews.com
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