Renault Hyundai in Malaysian JV

KUALA LUMPUR: French carmaker Renault and South Korea's Hyundai Motor Co announced this month a joint venture for a vehicle plant in Malaysia.

Hyundai and Renault will each hold a 15 percent stake in the venture, with the Malaysian government holding the remaining 70 percent stake.

The plant will produce Renault's midsize buses by late next year and Hyundai's small trucks by 1998.