Hyundai Motor says will continue China JV with BAIC

South Korean automaker Hyundai Motor Co (005380.KS) said on Friday it will continue its Chinese joint venture with BAIC Motor (1958.HK), shrugging off investor concerns about soured relationships between the partners.

China’s state-run Global Times newspaper has reported BAIC might risk losing the joint venture if disputes over suppliers were not resolved, citing an industry insider.

“The cooperative relationships between the two companies under the joint venture will continue, and the two companies plan to continue various dialogues to strengthen competitiveness in the Chinese market,” Hyundai Motor said in a statement to Reuters.

(REUTERS)