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(From Asia Pulse)
SEOUL, July 13 Asia Pulse - Hyundai Motor Co. (KSE:05380), South Korea's largest automaker, said Tuesday it will invest over US$260 million over the next three years to develop commercial vehicle engines that meet a European emission standard to be adopted here in 2008.
Hyundai Motor said it has signed agreements with two foreign automotive technology providers, AVL and Ricardo, to purchase their 4-liter, 6-liter and 9-liter commercial vehicle engines for use as models.
Hyundai Motor will spend 300 billion won by 2007 for the development of engines that meet the EURO-4 emission standard, the automaker said.
The South …