国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Auto Global

SAIC and Charoen Pokphand Group form Thai joint venture

By Han Tianyang (China Daily) Updated: 2012-12-10 05:37

SAIC and Charoen Pokphand Group form Thai joint venture

The historic UK brand MG is now owned by SAIC, which has joined with Thailand's biggest conglomerate to produce 50,000 of the sporty cars annually. Zhen Huai / For China Daily

Moving to tap markets in Southeast Asia, China's largest automaker SAIC Motor Corp recently agreed to form a joint venture with Charoen Pokphand Group to produce its MG cars in Thailand.

The Shanghai-listed automaker said in a statement last week that it will have a 51 percent stake in the planned joint venture, and CP Group, the biggest conglomerate in Thailand, will hold the remaining 49 percent.

With initial investment of 1.8 billion yuan ($290 million), the joint venture is set to start production in 2014. It will have an annual production capacity of 50,000 vehicles at the outset, which could increase to 200,000.

It is the first SAIC joint venture with a foreign partner to produce its own brand passenger vehicles overseas, part of the company's efforts to greatly boost its foreign deliveries to 800,000 vehicles a year by 2015.

SAIC said that it also plans to export the Thailand-made MG to other Southeast Asian markets and some countries elsewhere that use right-hand-drive vehicles.

Nanjing Automotive Co purchased UK auto group MG Rover in 2005 following its bankruptcy. SAIC later merged with Nanjing auto and now makes its own passenger vehicles under the Roewe and MG brands.

Thanks to its successful partnerships with GM and Volkswagen, SAIC has become the leading automaker in China, but it still lags behind smaller domestic counterparts such as Chery Automobile Co and Great Wall Motors in overseas businesses for wholly owned brands.

Though it has annual sales of some 4 million units, SAIC exported only about 60,000 vehicles last year, the majority of them are Chevrolets made with its joint venture partner General Motors. The exports also included a small number of MG cars assembled at SAIC's plant in the UK.

According to domestic media reports, SAIC also plans to bring its wholly owned commercial vehicle brand Maxus Datong to Thailand for local production when the time is right.

An important auto-manufacturing hub in Southeast Asia, Thailand produced a record high of more than 2 million vehicles in the first 11 months of the year, nearly half of them for export. The Thai Automotive Industry Club previously said that the nation's annual automobile output will hit 3 million in five years.

Japanese carmakers currently lead Southeast Asian markets with massive production facilities in both Thailand and Indonesia.

hantianyang@chinadaily.com.cn

Hot Topics

Editor's Picks
...
牟定县| 和政县| 姜堰市| 阿鲁科尔沁旗| 塔城市| 平乐县| 武夷山市| 辽源市| 福贡县| 嵊州市| 陇西县| 卢氏县| 朝阳区| 翁源县| 沿河| 荆门市| 门头沟区| 韶山市| 民丰县| 溧水县| 普宁市| 疏勒县| 嫩江县| 双峰县| 德令哈市| 肥西县| 龙州县| 沙田区| 达拉特旗| 九江市| 宣恩县| 沙坪坝区| 金寨县| 枣阳市| 玉林市| 盐津县| 靖远县| 阿尔山市| 庐江县| 武夷山市| 贵溪市|