TITLE

Hyundai rebuffs DCX on truck venture

AUTHOR(S)
Chang, Peter
PUB. DATE
October 2003
SOURCE
Automotive News;10/20/2003, Vol. 78 Issue 6062, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the automobile company Hyundai Motor Co. has shelved talks with its biggest shareholder DaimlerChrysler AG on a proposed joint venture to build commercial trucks in Korea as of October 20, 2003. The move, apparent retaliation for DaimlerChrysler's refusal to cancel an agreement to make Mercedes cars in China with Hyundai's partner there, likely will raise tensions sharply between these two automobile makers. Hyundai contends that DaimlerChrysler's proposed $1.17 billion deal with Beijing Automotive Industry Holding to produce Mercedes sedans violates an exclusive contract it has with the Chinese company to make cars in China.
ACCESSION #
11270879

 

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