Shanghai, June 19 (Gasgoo.com) Hyundai Motor Group is planning to move the sales office of its joint venture company Dongfeng Yueda kia to Nanjing from Shanghai in an attempt to benefit from the favorable policies of Jiangsu province, the 21st Business Herald reported on Wednesday.
The move is still left to be approved by shareholders of the joint venture, the report said.
Dongfeng Yueda Kia Automobile Company is a joint venture between the Dongfeng Motor Corporation (50%), Kia Motors (25%), and Yueda (25%). It sold 61,976 vehicles during the first five months of this year, up 34.3% from a year earlier.