After declaring that Beijing Hyundai’s third factory settled in Beijing, Hyundai Motors, which has taken a leading role in the global market, has not stopped its expansion in China. On December 20, Hyundai Motor announced that it had signed a contract with Baotou Beiben Heavy Truck Group in Inner Mongolia, China. Preliminary cooperation agreement and development of the goal of selling 100,000 heavy trucks in the Chinese market in 2014. This means that the larger scale of the Guangzhou Automobile's modern commercial vehicle project has been shelved.
The joint venture between Hyundai and Beiben Heavy Duty Trucks is the latest example of external cooperation in the field of domestic heavy-duty vehicles following the acquisition of Sinotruk by German MAN. It is also Hyundai’s third attempt to enter the field of commercial vehicles in China, the first being in 2004. The second cooperation with Jianghuai Automobile was to invest 1.2 billion U.S. dollars in cooperation with GAC, but the previous two were not successful. In addition, Hyundai has also produced a project to produce Koster and CMB with Xiamen Golden Brigade in the form of technical output.
The cooperation between Hyundai and Beiben Heavy Duty Trucks means that the project of modern cooperation with Guangzhou Automobile Commercial Vehicles may stop.
The co-operation between Hyundai Motor and Guangzhou Automobile Group originated in September 2004. At that time, Hyundai Motor actively found the Denway passenger car under GAC Group to negotiate. On June 21, 2005, Hyundai Motor and GAC executives signed the "Guangzhou Modern Commercial Vehicle Project Cooperation Basic Agreement" in Guangzhou. According to the agreement, Guangzhou Automobile Group and Hyundai Motor will cooperate in the commercial vehicle field and build a new Guangzhou modern commercial vehicle base in Huadu District, Guangzhou. The overall scale of the project is an annual output of 200,000 commercial vehicles of all types, with a total estimated investment of 1.24 billion U.S. dollars, of which the first phase investment is 430 million U.S. dollars. GAC Group and Hyundai Motor Co., Ltd. jointly funded with each share of 50% of the company's shares, establishing an independent legal person status. A joint venture company for commercial vehicles and a research and development center for commercial vehicles.
But since then, due to the bribery of modern car "helmsman" Zheng Mengjiu, he has been interrogated, causing the project to be put on hold. However, Hyundai Motor Co. did not seem to completely abandon this project, specifically building a six-lane road in Guangzhou to rent an office to facilitate contact with Guangzhou Automobile.
Hyundai Motor Co., Ltd. (Hyundai Motor Co., Ltd.) Guangzhou Representative Office chief Han Hanyong said in an interview with this reporter last year that the company's negotiations with the modern are still continuing, but not necessarily in a joint venture mode, but also through technical cooperation. form. However, when the reporter called the office last week, he found that the office telephone number had been cancelled.
A high-level person from Guangzhou Automobile Group interviewed this reporter at the Guangzhou Auto Show, claiming that many projects such as GAC and Fiat, GAC Changfeng, and self-owned brands need to be promoted. There is not much energy to develop modern commercial vehicle projects. In addition, Guangzhou Automobile Group has After GAC Hino Commercial Vehicles, modern commercial vehicles have become less attractive to them. He confirmed that GAC has no longer contacted with Hyundai Motors and defaulted the termination of Guangzhou Automobile’s modern commercial vehicle project.
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