trending Market Intelligence /marketintelligence/en/news-insights/trending/g6pp6fmkc81q6_zfs9czpw2 content esgSubNav
In This List

Report: Hyundai Motor signs strategic partnership with Sichuan Energy

Blog

Christopher & Banks Corporation – tracking the early-warning signals of credit risk

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Report: Hyundai Motor signs strategic partnership with Sichuan Energy

South Korean carmaker Hyundai Motor Co. said Sept. 3 that it signed a strategic partnership agreement with Sichuan Energy Industry Investment Group Co., Ltd. to expand into the Chinese market for commercial vehicles, Yonhap News Agency reported.

The Chinese energy company acquired a 50% stake in Sichuan Hyundai Motor Co. from Nanjun Automotive Co. Ltd., the previous partner in the 50/50 joint venture, the report added.

"Hyundai and the new JV partner plan to seek partnership in a variety of business areas ranging from commercial car development and production to sales and services, logistics and new energy-powered vehicles to make a presence in the local commercial car market," the report said, citing a company statement.

Sichuan Hyundai intends to develop five new commercial vehicles by 2022. It also plans to launch an electric version of one of its trucks, the report said.