SEOUL — The new US$180 million joint venture diesel engine plant to be constructed by Hyundai Motor Co. Ltd. and DaimlerChrysler AG, announced on June 21, is a bigger project than its initial cost might indicate. Hyundai Executive Vice President Steve Morgan, who handled most of the negotiations for his company, calls it the cornerstone of a full-fledged commercial vehicle JV both companies announced last summer and could lead to later joint projects, including passenger cars. “This is ...
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