China Economic ReviewChinese automaker Dongfeng Motor and French partner PSA Peugeot Citroen announced plans to invest Euro 600 million (US$759 million) to double the production capacity of their JV and introduce new models by 2006. The annual capacity of the JV, based in Wuhan, Hubei province, will increase to 300,000 units in 2006, up from the current […]
German carmaker Volkswagen saw sales from its two main Chinese JVs rise about 40% in 2003 to more than 694,000 vehicles, exceeding its full-year sales target by nearly 100,000 cars. Volkswagen, with about a 33% share of the Chinese market, expects to roll out 1.6 million vehicles in China annually in four years' time after […]
Brilliance China Automotive announced it would pay RMB 785 million (US$95 million) for a 40% stake in its JV partner Jinbei Automotive, the Shanghai-listed parent of Shenyang Automotive The deal, announced on New Year's Eve, was expected to draw criticism by clouding the transparency surrounding Brilliance's operations. The company is at the heart of a […]
The top two companies in terms of sales were two Volkswagen JVs. Shanghai Volkswagen, the German automaker's JV with Shanghai Automotive Industry Corporation (SAIC), held a 19.3% share of the market with 316,307 units sold. FAWVolkswagen, VW's JV with First Automotive Works (FAW), had a 13.7% market share with 224,257 units sold. In third was […]
Hyundai Motor, South Korea's largest carmaker, announced it plans to start construction on a plant near Beijing to produce 600,000 cars annually by 2007. The factory will be Hyundai's second Chinese plant after it set up a 50:50 JV last year with Beijing Automotive Industry holding to produce passenger cars. The JV plant has so […]