In a bid to expand its product portfolio, Hyundai Motor Co plans to launch commercial vehicles in the country within a year and said it is in the process of roping in a local partner.
“We are looking for a joint venture with a local partner and within this year something should be worked out,” H S Lheem, Managing Director of Hyundai Motor India, the local unit of the Korean firm, told reporters at the Auto Expo here.
The company has shortlisted two firms and are close to selecting one, he added. It plans to launch mid-size buses in the 25-seater category and large buses first, he said adding trucks will follow later.Other global auto makers like Volvo and Daimler have tied up with local firms for joint ventures for bus-body building. The company plans to sell 5.3 lakh cars by end of 2008, Mr Lheem added.
