Hyundai to expand commercial vehicle business by 2020

Rebecca Hayward - 3 March 2015

South Korean vehicle manufacturer Hyundai Motor Company has announced plans to invest KRW 2 trillion (US$1.8 billion) by 2020 to increase its commercial vehicle competitiveness.

According to the company, KRW 1.6 trillion (US$1.4 billion) is earmarked for researching and developing new models and engines to strengthen Hyundai's global vehicle competitiveness over the next five years.

The remaining KRW 400 billion (US$350 million) will be invested in increasing production capacity at the company's Jeon-ju commercial vehicle plant in southwest Korea. Annual production capacity is expected to increase from 65,000 units to 100,000 units by 2020 and will include the construction of a new Pilot Center and Global Training Center.

According to Reuters, Hyundai also plans to enter the commercial vehicle markets in North America and Europe with the introduction of premium models.

In order to comply with the latest U.S. emissions legislation, Hyundai's diesel commercial vehicles will require the use of emissions reduction technologies such as Selective Catalytic Reduction (SCR) to limit NOx emissions.

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