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Record exports for Chery
December 21, 2011, Wednesday
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Print Edition
Print Edition
CHERY Automobile Co said it exported a record high 149,462 units in the first 11 months of this year, up 79.7 percent from the same period of 2010, the carmaker said. Total deliveries in November amounted to 55,616 units with exports more than doubling to 13,906 units.
Chery spokesman Jin Yibo said the stronger exports played a vital role in helping the automaker offset flat sales domestically. Besides the growing export volume, Jin said Chery is also restructuring its export structure to be able to sell more higher-value models like the Chery Tiggo, A3 sedan and Cowin 2. These models now account for 63 percent of total exports, up from 38 percent in 2008.
Continental expansion
Global parts suppliers Continental AG has invested 10 million yuan (US$1.6 million) to expand capacity at its plant in Wuhu, Anhui Province.
With the additional 1,500 square meters of space, the new production facility will increase the production capacity of actuator covers by 60 percent starting from December. Output of electronic throttle controls will also be boosted by 10 percent in addition to a 30 percent increase for fuel supply armatures.
Nissan R&D center
Zhengzhou Nissan Automobile, a light commercial vehicle venture between China's Dongfeng Motor Corp and Nissan, has invested 280 million yuan (US$44 million) to set up a new research and development center in Zhengzhou, capital city of Henan Province.
The center is expected to open in 2013 and will become the global engineering center for Nissan's light commercial vehicles. It will develop new Nissan models while making adaptive improvements of Nissan vehicles in China.
The facility will also play a major role in developing Dongfeng branded pickups, SUVs and MPVs to serve the Chinese carmaker's ambition to role out 3 million self-branded passenger vehicles by 2016.
Emgrand EC7 gets 4 stars
The Emgrand EC7 made by China-based Geely Automobile earned a four-star rating at the Euro New Car Assessment Program, the highest score by a Chinese-made vehicle.
The Emgrand EC7 won a five-star rating, the highest possible level, in the protection of children, pedestrian and safety assist after front, side and rear crash tests were conducted. It failed to reach five stars for the protection of adults.
The five-door saloon is a higher-end model rolled out by Geely in an effort to lift the brand's image and seek better profitability.
SVW to tap Xinjiang
Shanghai Volkswagen Automobile Co plans to build a production base in the northwestern Xinjiang Uygur Autonomous Region, according to a statement posted on the Xinjiang development and reform commission's website.
The plant, which will have an annual production capacity of 50,000 passenger cars, will start production in 2013, the statement said. The country's National Development and Reform Commission has approved the plan, according to the statement.
Auto financing JV
Santander Consumer Finance SA has signed an agreement with Chinese auto maker Anhui Jianghuai Automobile Co Ltd, or JAC, to create an auto-financing joint venture.
The unit of Banco Santander SA and JAC will each have a 50 percent stake in the venture, which will have initial capital of about 58 million euros, the Spanish bank said.
Chery spokesman Jin Yibo said the stronger exports played a vital role in helping the automaker offset flat sales domestically. Besides the growing export volume, Jin said Chery is also restructuring its export structure to be able to sell more higher-value models like the Chery Tiggo, A3 sedan and Cowin 2. These models now account for 63 percent of total exports, up from 38 percent in 2008.
Continental expansion
Global parts suppliers Continental AG has invested 10 million yuan (US$1.6 million) to expand capacity at its plant in Wuhu, Anhui Province.
With the additional 1,500 square meters of space, the new production facility will increase the production capacity of actuator covers by 60 percent starting from December. Output of electronic throttle controls will also be boosted by 10 percent in addition to a 30 percent increase for fuel supply armatures.
Nissan R&D center
Zhengzhou Nissan Automobile, a light commercial vehicle venture between China's Dongfeng Motor Corp and Nissan, has invested 280 million yuan (US$44 million) to set up a new research and development center in Zhengzhou, capital city of Henan Province.
The center is expected to open in 2013 and will become the global engineering center for Nissan's light commercial vehicles. It will develop new Nissan models while making adaptive improvements of Nissan vehicles in China.
The facility will also play a major role in developing Dongfeng branded pickups, SUVs and MPVs to serve the Chinese carmaker's ambition to role out 3 million self-branded passenger vehicles by 2016.
Emgrand EC7 gets 4 stars
The Emgrand EC7 made by China-based Geely Automobile earned a four-star rating at the Euro New Car Assessment Program, the highest score by a Chinese-made vehicle.
The Emgrand EC7 won a five-star rating, the highest possible level, in the protection of children, pedestrian and safety assist after front, side and rear crash tests were conducted. It failed to reach five stars for the protection of adults.
The five-door saloon is a higher-end model rolled out by Geely in an effort to lift the brand's image and seek better profitability.
SVW to tap Xinjiang
Shanghai Volkswagen Automobile Co plans to build a production base in the northwestern Xinjiang Uygur Autonomous Region, according to a statement posted on the Xinjiang development and reform commission's website.
The plant, which will have an annual production capacity of 50,000 passenger cars, will start production in 2013, the statement said. The country's National Development and Reform Commission has approved the plan, according to the statement.
Auto financing JV
Santander Consumer Finance SA has signed an agreement with Chinese auto maker Anhui Jianghuai Automobile Co Ltd, or JAC, to create an auto-financing joint venture.
The unit of Banco Santander SA and JAC will each have a 50 percent stake in the venture, which will have initial capital of about 58 million euros, the Spanish bank said.
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