China Economic ReviewGuorun Geely, the joint venture between Guorun Holdings of Hong Kong and Geely Group, is to start production of a new model targeting the low end of the domestic market, as part of its strategy to introduce a new model each year, South China Morning Post said. Recently approved by the Chinese authorities, the venture […]
Volvo of Sweden has decided to set up a joint venture with the China National Heavy Truck Corp. The venture will produce Volvo trucks at the corporation's facility in Jinan. Shandong province, starting with 2,000 units a year and growing to 10,000 by 2010. Initially, trucks will be sent to China in kit form for […]
DaimlerChrysler is in talks to form three joint ventures in China to build Mercedes- Benz cars and trucks, Frankfurter Allgemeine Zeitung reported. The US-German company had previously said that it was in talks with Chinese officials to begin assembling Mercedes C-Class and E-Class luxury cars using kits shipped from Germany in a joint venture with […]
Following the unravelling of its deal with China Brilliance Holdings, British car maker MG Rover is holding talks with Geely, a privately-owned domestic car maker, about setting up a joint venture to produce cars for the Chinese market, the Financial Times said. Geely is based in Ningbo, Zhejiang province, where the proposed joint venture with […]
Shanghai Automotive Industry Corp has raised its output target for this year to 500,000 units from 460,000 units. SAIC, which has joint ventures with Volkswagen and General Motors, sold 410,000 units in 2002. The target increase followed good results in the first four months of 2003, with sales in April alone rising 33 per cent […]