Visit Hyundai in your country/region
Font Size
Investors News

Temporary Response to Disclosure Inquiry regarding Rumor or News

2005.06.21 No. 343
We signed MOU with China Guangzhou Automobile Company in reference to the establishment of China Commercial Vehicle Joint Venture Plant.
1. Type of plan : Establishment of Commercial Vehicle Joint Venture plant in Guangzhou, China.
2. Objective of plan : To response to the fast growing commercial vehicle demand in China.
3. Schedule :
- June 21, 2005 ? Signing MOU
- End of 2005 ? Completion of incorporation and ground breaking of new plant
- 2007 : Anticipating start of production
4. Estimated investment amount :
- Total investment of USD 1.24 billion for 200,000 capacity including initial investment amount USD 430 million. (Each company will hold 50% stake of total investment.)
5. Contents :
i) Name of company :
Guangzhou Hyundai Motor Company(tentative)
ii) Partner of joint venture :
Guangzhou Automobile Company
iii) Ratio : 50:50
(Hyundai Motor Group : Guangzhou Automobile Group)
iv) Scope of Joint Venture : Commercial vehicle business including R&D, production, sales, A/S and distribution etc.
v) Capacity expansion plan
Year 2007 : 20,000 units
Year 2009 : 50,000 units
Year 2011 : 200,000 units

We will disclose any further details upon its conclusion by the end of December, 2005.
Name of Disclosure Officer : Yoo No Hwang,
Director, Head of Financial Management Group
* The above statement is in response to the Korea Stock Exchange inquiry made on May 13, 2005
notice close