SAIC BUILDS COMMERCIAL VEHICLE BASE IN CHONGQING
AsiaInfo Services, June, 2007
AsiaInfo Services 06-19-2007 SAIC Builds Commercial Vehicle Base in Chongqing CHONGQING, Jun 19, 2007 (SinoCast via COMTEX) -- Shanghai Automotive Industry Corporation (Group) (SAIC), one of the largest automakers in China, has set up two ventures of commercial vehicles and engines with total investment of CNY 4.7 billion in Chongqing in Southwestern China. SAIC Iveco Hongyan Commercial vehicle Co., Ltd., is a 67:33 venture of SAIC Iveco Commercial Vehicle Investment Company under SAIC and Chongqing Heavy Vehicle Group Co., Ltd.
with total registered capital of CNY 1.3 billion. It is built based on Chongqing Hongyan Motor Co., Ltd., a heavy-duty trucks and special-purpose vehicles manufacturer, and covers an area of 45.33 hectares. It will produce Hongyan, Steyr...
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