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South Korean automaker Hyundai Motor stated on Friday it will carry on its Chinese joint venture with BAIC Motor, brushing off investor concerns about soured relationships between the partners.
China’s state-run Global Times newspaper has reported BAIC may risk losing the joint venture if disagreements over suppliers were not resolved, pointing out an industry insider.
“The cooperative relationships between the two companies under the joint venture will continue, and the two business plan to continue different dialogues to enhance competitiveness in the Chinese market,” Hyundai Motor stated, according to Reuters.
