Senin, 24 Januari 2011
Chinese automaker to invest $8M in Phl assembly plant
Great Wall Motor, one of China’s leading car makers will invest $8 million for the assembly of Chinese vehicles in the country.
The Board of Investments (BOI) announced that GWM’s assembly facility will be done in partnership with Allen Roxas of State Motor Corp.
GWM is China’s first private automobile enterprise listed in the Hong Kong Stock Exchange. The company has 30 subsidiaries.
There are already three Chinese auto manufacturers that are part of the Motor Vehicle Development Program (MVDP). The three firms who registered as participants of the MVDP for 2010 are Jianghuai Automobile Co. Ltd., GWM and Chonging Astronautic Motorcycle Manufacturing Co. Ltd. (BASHAN).
JAC entered into a technical licensing agreement with JAC Automobile International Philippines Inc. for the supply of KD kits, KD parts and components for the assemble and manufacture of one ton to three ton light trucks. JAC said it will start full production by January next year.
Likewise, JAC said they will manufacture and assemble trucks and buses with Jianhuai Automobile. BOI said that if JAC will be successful in this venture and sell 1,000 units of buses and trucks annually then they will again partner with Jainghuai Automobile for the assembly and manufacture of passenger cars.
JAC is a company listed in the Shanghai stock exchange and has been a comprehensive automaker with full line independent brand vehicles in China. It has an annual production capacity of more than 500,000 units.
BASHAN on the other hand has Racal Motor Assembly Corp. as its local partner for motorcycles parts and components.
BASHAN has an annual capacity of 500,000 units with a market oriented to Argentina, Venezuela, Bolivia, Guatemala, Salvador, South Africa, among others.