Mitsubishi and Changfeng consider China venture
Japan's Mitsubishi Motors Corp is seeking approval from China to set up an auto manufacturing joint venture with Hunan Changfeng Motors Co, a Changfeng executive said on Tuesday.
Mitsubishi and Changfeng had decided to go for a 50/50 venture making sedans and sports utility vehicles (SUVs)."But no agreement has been signed so far. The project needs the approval of the government," the executive added.The executive did not reveal the financial details of the venture.
Mitsubishi, which owns 16.07 percent of Hunan Changfeng -- a SUV and pickup truck maker -- has been seeking to deepen its ties with the Chinese firm for years.
Reuters reported in 2006 that Mitsubishi was interested in setting up a joint venture with Changfeng, and if successful, the Japanese firm could invest at least 1 billion yuan ($138 million) into the project.
Li Jianxin, chairman of Changfeng Group -- parent of Changfeng Motors -- siad this week that the group might consider building an assembly plant in the United States if its plan to start exporting SUVs to the United States in 2009 materialises.
Changfeng, based in the southern province of Hunan, is among a growing number of Chinese automakers hoping to make a name abroad. A few other Chinese automakers have also expressed interest in setting up plants in the United States. ($1=7.244 Yuan)Views:0
- Guangzhou Auto to take slice of Changfeng 2009-05-22
- Changfeng CT5 open pickup culture in shanghai Auto Expo. 2009-04-17
- China's Changfeng Motors sees 2007 net up 400 pct 2008-01-31
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February 2022-04-13
- SAIC MAXUS' Overseas Sales Jumped by 129% YOY to 6940 Units in March 2022-04-12
- FOTON Pakistan Delivered 3 Express Logistics Vehicle to DHL 2022-04-12
- CP FOTON’s Dealer Summit & AUMARK FLEX Launch Ceremony Held in Thailand 2022-04-12
- 328 Units!China’s First Largest Automatic Heavy Truck Export Order to Colombia 2022-04-08
- BYD Stopped the Production of Fuel Vehicles 2022-04-07
- China’s First Ammonia Diesel Engine for Heavy Vehicle Ignited Successfully 2022-04-07
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021