According to the newspaper Shanghai Securities News, Beijing Hyundai Motor Co, which is a 50-50 joint venture between South Korea’s Hyundai Motor Corp and Beijing Automotive Group, is expected to develop a hybrid car in China over the next couple of years.
Beijing Hyundai Motor board chairman Xu Heyi told the newspaper that the venture will open a R&D center in Beijing as part of an expansion plan.
Xu, without making an elaborate announcement quipped; Necessary funds and staff for the R&D center are already in place now.
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