HYUNDAI MOTOR TO INVEST IN DEVELOPING COMMERCIAL VEHICLE ENGINES.

(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 …