SEOUL: South Korea’s Hyundai Motor Co plans to spend around US$1.8bil by 2020 on a major offensive in commercial vehicles, including entering the race in the United States, to catch up with rivals in a rapidly growing global market.
Hyundai, the world’s No.5 automaker when paired with sister Kia Motors Corp, has targeted a market it sees growing almost 30% in each of the next five years, but where its share ex-China is a paltry 2.1%.
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