China's commercial vehicle market is expected to grow to 5.5 million
The 50-50 joint venture, which will be established in Ziyun city in the southwestern province of Sichuan, aims to sell 90,000 commercial vehicles in 2011 and 300,000 units in 2015, Hyundai Motor said in a statement.
China's commercial vehicle market is expected to grow to 5.5 million units in 2015, from 4.5 million units this year, Hyundai said.Hyundai, the world's No.5 carmaker along with its affiliate Kia Motors, is enjoying a surge in sales in China, fueled by Beijing's subsidies for fuel-efficient cars.
Monthly car sales exceeded 70,000 units for the first time in China in September, and 2010 sales are expected to exceed the target of 670,000 units.
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