Shenyang Brilliance Automotive said that it would sell half of its 50 per cent stake in a US$230m truck joint venture with General Motors to three other Chinese companies. GM will retain its 50 per cent stake in the venture and continue to nominate its president. Shenyang Brilliance will hold 25 per cent of the venture and its sales of the remaining 25 per cent will go towards adjusting its business structure. The joint venture based in Liaoning province makes Chevrolet Blazer trucks and S-10 crew crab pick-ups.
Meanwhile, China Brilliance has signed a 20-year licensing deal to produce the famous London black cabs at its Shenyang plant. This will be the first overseas assembly of the black taxis, made by Manganese Bronze of the UK. The deal came about after China Brilliance’s chairman, Yang Rong, took a shine to the vehicle during a business visit to London. The deal was signed just a few weeks after it was announced that Brilliance was holding joint-venture talks with another British motor manufacturer, MG Rover.