China Economic ReviewJapan's Toyota Motor has agreed with Guangzhou Auto to set up a joint venture to produce cars at a new plant in suburban Guangzhou, Asahi Shimbun said. The deal will be announced formally when it has received approval from the Chinese government.When production starts in 2005, it will initially assemble between 30,000 and 50,000 midsize […]
Vehicle-equipment maker Zhongda International Holdings posted a net profit of Yn2.6m for 2002 compared with Yn33.5m in 2001, South China Morning Post said. Turnover dropped 3.8 per cent toYnl73m. The announcement was made two months after its deadline under listing rules. Zhongda blamed the profit fall on changes in the automobile repair and maintenance market […]
Japan-based Denso, which manufactures air-conditioners and other equipment for motor ears, plans to triple its sales in China before April 2006 and to more than double output in the country over the next couple of years. The company supplies parts to Toyota and has six joint ventures in China. Earlier this year it set up […]
Volvo has unveiled plans to add two new models to the range it markets in China as part of a drive to increase exports to the country, China Business Week/v said. The models are the limited- edition sports saloon 560R and the newly-upgraded SXO sedan. Earlier this year, Volvo added its XC9O sports utility vehicle […]
US-based ear giant General Motors is planning to invest Yn2bn to double capacity at its joint venture plant in Shanghai, China Daily said. The venture's board had already approved the building of a new factory for open by 2005. GM declined to confirm details the plans until they had been approver by the central government. […]