According to the agreement, Hyundai will manufacture and supply the chassis cab, while Iveco Group will handle local customisation and European distribution through its sales network.

The market for commercial vehicles over 2 tons gvw in South Korea declined sharply in the third quarter of 2023, by almost 16% to 53,168.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by over 8% to 326,720 units in the third quarter of 2023.

The battery cells are to be sourced from LG Energy Solution to make battery modules and packs for TDCV starting in the first half of 2025.

The new facility is scheduled to be completed in 2028 within the company’s Hwaseong manufacturing complex.

Mars Auto develops AI-based self-driving software for freight trucks. In 2019, it was the first company in South Korea to successfully test a self-driving truck.

The Board of Directors has approved a proposal to build a new EUR 540 million commercial vehicle tyre production line at its Hungarian plant in Rácalmás by 2027.

The e-SMaRT AU56 City product is set to go into series production in Q2 2024. The first tyres to roll off the production line will be 275/70 R22.5 tyres, designed for the urban electric bus market.

The E-Way H2 will be produced at the Iveco Bus plants in Annonay, France, and Foggia, Italy. The 12-metre low-floor city bus is equipped with a Siemens ELFA 3, 310-kW e-motor and an advanced fuel cell system provided by Hyundai. With four hydrogen tanks located on the roof and one 69 kWh battery pack by FPT Industrial, the vehicle offers a driving range of 450 km (280 miles) and can accommodate 115 passengers.

The commercial vehicle market over 2 tons gvw in South Korea expanded by just over 3% in the second quarter of 2023 compared with the same period of last year.

The two companies have agreed to collaborate in the development of purpose-built vehicles (PBVs) optimised for delivery of goods.

Hariphil Asia Resources Inc (HARI), the Manila-based distributor of Hyundai commercial vehicles, launched the light-duty public bus after it was issued with a Certificate of Compliance (COC) in July by the Department of Transportation.