Geely likely to site Volvo Cars plant in Shanghai's Jiading
By Jin Jing |
July 9, 2010, Friday
|
Print Edition
Print Edition
ZHEJIANG Geely Holding Group is likely to locate the Chinese plant of Volvo Cars in Jiading District in Shanghai, media reports said, citing a government official.
The Chinese car maker has signed a framework deal with the district to site an assembly plant in Anting Town, Shanghai's auto city, a Chinese website said yesterday, citing Zhu Mingrong, an official of the district government. Jiading will also host Volvo's Chinese headquarters and a local engineering center, the official added.
In March this year, Geely signed a US$1.8 billion deal with Ford Motor Corp to buy its premier Volvo unit. The deal, which just won European antitrust approval, is expected to be completed in the third quarter.
Anting Town, located in the west of Shanghai, is home to several auto makers including Shanghai Volkswagen as well as international auto parts suppliers.
The private Chinese car maker has been actively pursuing provincial governments about producing Volvo cars locally, a key move to spur domestic demand in China and drive Volvo's global sales to 1 million units within four to five years.
Ning Shuyong, a spokesman of Geely's Volvo project in China, declined to comment on the site of the plant yesterday, saying the company's focus was to complete the deal successfully.
Also yesterday, Geely formed a strategic partnership with French partner Faurecia SA and domestic supplier Zhejiang Limin in a bid to upgrade its supplier chain.
The partnership ties the three companies to set up a new joint venture that will supply Geely starting in 2011, and also build three to four new factories to meet rising demand, Geely said in a statement on its website.
Limin is one of Geely's parts suppliers while Faurecia is Europe's largest maker of vehicle interiors.
The Chinese car maker has signed a framework deal with the district to site an assembly plant in Anting Town, Shanghai's auto city, a Chinese website said yesterday, citing Zhu Mingrong, an official of the district government. Jiading will also host Volvo's Chinese headquarters and a local engineering center, the official added.
In March this year, Geely signed a US$1.8 billion deal with Ford Motor Corp to buy its premier Volvo unit. The deal, which just won European antitrust approval, is expected to be completed in the third quarter.
Anting Town, located in the west of Shanghai, is home to several auto makers including Shanghai Volkswagen as well as international auto parts suppliers.
The private Chinese car maker has been actively pursuing provincial governments about producing Volvo cars locally, a key move to spur domestic demand in China and drive Volvo's global sales to 1 million units within four to five years.
Ning Shuyong, a spokesman of Geely's Volvo project in China, declined to comment on the site of the plant yesterday, saying the company's focus was to complete the deal successfully.
Also yesterday, Geely formed a strategic partnership with French partner Faurecia SA and domestic supplier Zhejiang Limin in a bid to upgrade its supplier chain.
The partnership ties the three companies to set up a new joint venture that will supply Geely starting in 2011, and also build three to four new factories to meet rising demand, Geely said in a statement on its website.
Limin is one of Geely's parts suppliers while Faurecia is Europe's largest maker of vehicle interiors.
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