SAIC Hongyan Invests 2.1 Billion RMB in Chongqing for Production Expansion
On August 23, SAIC Iveco Hongyan Commercial Vehicle Co., Ltd. (hereafter referred to as SAIC Hongyan) signed an agreement with Liangjiang New Area, Chongqing, for a production expansion project with a total investment of 2.1 billion RMB.
According to SAIC Hongyan, it plans to build new production lines and upgrade its current production facilities. By building more intelligent factories, the company aims to further increase its annual production capacity from 40,000 units to 120,000 units.
In addition, SAIC Hongyan is making relentless efforts in developing its sixth generation heavy-duty trucks, new energy heavy-duty trucks, internet-connected smart heavy-duty trucks, etc.
Set up in 2007 in Liangjiang New Area in Chongqing, SAIC Hongyan covers an area of 678 mu and is able to produce 40,000 units heavy-duty trucks each year at present.
In the past 19 months, SAIC Hongyan has maintained the fastest growing momentum in China’s heavy-duty truck industry. In July, its sales volume reached 5,009 units, up by 42% year on year. Despite the downward trend of domestic sales of the heavy-duty trucks, SAIC Hongyan’s performance is impressively satisfactory. (www.chinatrucks.com)
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