Hyundai establishes auto financing JV in China

Hyundailogo

Hyundai Motor Group (KSE: 005380), a South Korea-based automaker, has established an auto financing joint venture in China.

The automaker has set up an auto financing joint venture to start offering auto loans for Hyundai and Kia customers.

The South Korean automaker will have a 60 percent share in Beijing Hyundai Auto Finance Co. with an initial capital of CNY500m, while the remaining shares will be with Beijing Automotive Industry Group.

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