South Korean automaker Hyundai Motor has broken ground on a commercial vehicle plant in Ziyang, China.
The plant named, Sichuan Hyundai Motor, is a 50-50 joint venture (JV) between Hyundai and China's Sichuan Nanjun Automobile Group.
The new plant is scheduled to be completed by the first half of 2014 and is expected to roll out 150,000 trucks per year.
The JV is expected to increase its capacity to 300,000 to meet growing demand for commercial vehicles in China.
Hyundai Motor vice chairman Hanyoung Choi said, "Hyundai's advanced technologies and experience, combined with Nanjun Auto's growth potential, will quickly drive Sichuan Hyundai to emerge as a competitive player in the market."
Hyundai anticipates China's commercial vehicle market to grow to 4.71 million in 2017 from 4.03 million in 2011.
