DaimlerChrysler, Hyundai ink deal
FRANKFURT, Germany – Several news services report that Freightliner LLC’s parent company, DaimlerChrysler, is expected to announce a deal with Korea’s Hyundai to build commercial vehicles for Asia.
The 50-50 joint venture is to build up to 120,000 trucks and buses annually beginning in 2002.
The reports indicate that DaimlerChrysler chairman Juergen Schrempp and Hyundai’s Chung Mong Koo planned to announce the deal before a Brussels-based commercial vehicle show, but Daimler spokesperson Othmar Stein said the companies are still ironing out the details. n
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