UPDATE 2-Hyundai Motor in $1.24 bln China jv with Guangzhou

Newswire

(Recasts, adds analyst quotes and more details) By Kim Kyoung-wha and Kim Miyoung SEOUL, June 21 (Reuters) - South Korea's Hyundai Motor Co. agreed on Tuesday to set up a $1.24 billion commercial vehicle joint venture with China's Guangzhou Auto Group, joining global rivals to target the world's third-biggest vehicle market. Hyundai's expansionary drive is aimed at helping the country's top car maker achieve its ambition of becoming the number-six global auto giant by 2010. But some ...

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