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Hyundai Motor has signed a deal with Turkmenistan’s government to supply 500 units of its large bus, according to the automaker Tuesday.
Under the deal, Hyundai would supply 500 Aero City amounting to around $66 million, the largest overseas deal of its buses. This is equivalent to the shipments of 2,600 units of premium Sonata, which costs 30 million won ($25,800) each.
Under the deal, Hyundai would supply 500 Aero City amounting to around $66 million, the largest overseas deal of its buses. This is equivalent to the shipments of 2,600 units of premium Sonata, which costs 30 million won ($25,800) each.
The automaker has already supplied 490 and 200 buses to the nation in 2009 and 2012, respectively.
The latest deal came after both governments discussed the supply of Hyundai’s Aero City during the economic meeting following a summit between South Korean President Park Geun-hye and Turkmenistan’s President Gurbanguly Berdimuhamedow in June 2014.
The automaker said it plans to begin production of the buses from July and complete the supply by September next year in line with the opening of the fifth Asian Indoor & Martial Arts Games to be held in Ashgabat, the capital of Turkmenistan.
“The transportation deal was done based on long-term credibility. We hope this deal serves as nongovernmental diplomacy,” the company’s spokesperson told The Korea Herald.
By Shin Ji-hye (shinjh@heraldcorp.com)
