Hyundai is preparing to enter the U.S. commercial vehicle market through an investment plan to strengthen its current commercial business by 2020.
Reuters reports the automaker will invest ₩400 billion ($363.13 million USD) to boost production of its commercial vans, trucks and buses at home by the start of the next decade, with an additional ₩1.6 trillion ($1.45 billion) to go into R&D over the same period.
Currently, Hyundai is building its Trago Xcient heavy commercial truck in China for the automaker’s largest market — the U.S. is second — and has plans to assemble the H350 light commercial truck in Turkey beginning next month for the automaker’s foray into Western Europe. Meanwhile, the factory in Jeonji, South Korea will see its production capacity rise from 65,000 units per year to 100,000 by 2020.
However, just like its experience in building its market share in the U.S. consumer market, Hyundai’s assault on the commercial market will take some time. Per Korea Investment & Securities analyst Suh Sung-moon, the automaker would need to boost total commercial production capacity to 10 million units, up from the 8 million made annually.
The post Hyundai Bolstering Commercial Business For Go At US Market appeared first on The Truth About Cars.
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