Changan jet lighterAuto to set up 6th overseas factory in Mexico
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Changan Auto to set up 6th overseas factory in MexicoPublished: 18 Feb 2009 17:57:14 PSTFeb. 18, 2009 (China Knowledge) — Changan Automobile (Group) Co Ltd, the fourth largest automaker in China, has recently signed a cooperation framework with Mexico’s AutoPark to set up an automobile factory in Mexico, sources reported.Under the agreement, the two sides will jointly produce and sell Changan Auto’s products in Mexico, including Changan Benni, Zhixiang and Alsvin. Besides, Changan Group and AutoPark expect that the joint venture (JV) will help them enter the North America auto market in the near future, as the JV can enjoy the U.S. tariff exemption policy in the North America Free Trade Area.Changan Group did not reveal the details of the investment and construction plans.Official statistics showed that Mexico, one of the most important auto markets in America, put out about 2.2 million cars last year, with 70% to 80% being exported to 40 countries and areas worldwide. However, the country sold 2.3 million vehicles in 2008, down 20% from the previous year. Chongqing-based Changan Auto is Ford and Suzuki’s partner in China. Its corporation, Chongqing Changan Automobile Co Ltd<000625> is listed on the Shenzhen Stock Exchange. The group has set up five overseas factories in Malaysia, America, Iran, Ukraine and Vietam. The group’s executive said that Changan Auto exported 40,000 vehicles to overseas markets in 2008, and it aims to increase the figure to 200,000 annually in the coming three years.Copyright © 2009 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina News港澳游 弹簧 oa办公系统 換金 有机玻璃 クレジットカード 現金化 比較 滤油机 car sun shades キャバクラ 大阪