South Korea's leading automaker Hyundai Motor said Wednesday (28/2/07) it would assemble trucks and buses at a plant in Indonesia starting this month.
Hyundai Motor said the plant, which has been built by Indonesia's Korindo Group with an investment of $23 million, would have an annual production capacity of about 3,600 buses and 2,400 trucks.
Korindo Group will be in charge of marketing and sales, it said, according to Agence France-Presse.
Demand for commercial vehicles in Indonesia is forecast to reach 400,000 vehicles this year on the back of an economic recovery, Hyundai said.
Hyundai Motor already has an assembly plant for compact cars and mini-vans in Indonesia.
Hyundai Motor, together with its sister firm Kia Motors, accounts for 70% of South Korea's car market and is the world's sixth largest automaker.