Hyundai, BAIC to jointly invest $1.1 billion in China JV
The investment comes about a year after the two partners announced a plan in January to team up for building a new China-dedicated EV brand through the JV
Hyundai Motor Co. and Chinese partner Beijing Motor Corp. (BAIC) plan to jointly invest $1.1 billion in their joint venture to help the South Korean carmaker regain traction in the world’s largest electric vehicle market, according to a news report published by The Korea Economic Daily on Dec. 13.
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