Hyundai is plans to manufacture heavy duty trucks

Korean auto major Hyundai is now revving up plans to manufacture heavy duty trucks as well as buses in India. The company is the second largest passenger car manufacturer in the country with an overall market share of 14%.
The company said it is in talks with a number of Indian manufacturers to establish a joint venture for its foray into the $5 billion commercial vehicle (CV) mart.
"A number of Indian manufactures have approached us and we are currently assessing the situation," said H S Lheem, MD, Hyundai Motor India. But he declined to give a timeline or any indication of the possible partner.
As per data provided by the Society of Indian Automobile Manufacturers, India's sales of CVs (small and large trucks, and buses) saw a growth of 33% at 467,882 units in the year ended March 31, 2007, as against 351,041 units in 2005-06. Global auto majors have recently upped their ante on the CV space. TOI had earlier reported that Toyota was looking at the CV space and was scouting for land in Rajasthan to set up a manufacturing plant.
Other global auto manufacturers like Mercedes, Volvo and Nissan have already tied up with Indian manufacturers to compete in the CV market, which Tata Motors and Ashok Leyland have so long dominated.

Courtesy:timesofindia.indiatimes.com
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