DaimlerChrysler AG and Hyundai Motor Co. Ltd. break ground on their South Korean joint engine plant in Hyundai’s Chonju Commercial Vehicle Plant complex. The new equal joint venture, named Daimler Hyundai Truck Corp., was formed last July. The plant represents an investment of 30 billion won ($230 million) – including engine development and plant tooling costs. The plant will build 50,000 900 series diesel engines annually for use in commercial vehicles when it hits full stride in 2005. ...
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