This thread is meant for China related auto news published in month of March (2006). These news are general car industry news and not concerning individual makes. I will post all news concerning individual Chinese car manufacturers to their own forum categories. :nod:

If you find an news subject, you can post too :thumb:

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March 1

Tenneco Eyes China's Automobile Market

Tenneco Inc, a US-based auto parts supplier, plans to invest US$51million over the next three years in China, where an auto industry boom is expected.
The NASDAQ-listed company will use part of the investment to open a wholly owned rubber manufacturing plant this June in Suzhou, a city of East China's Jiangsu Province. It will also set up a new engineering centre in Shanghai as a joint venture to develop automotive exhaust products for its growing customer base in China...

http://english.people.com.cn/200603/01/eng20060301_246933.html


March 7

China's Beiqi Foton and Cummins Inc Explore Joint Venture

Cummins Inc. and China's Beiqi Foton Motor Company (Beiqi Foton) announced they have signed a feasibility study plan for the formation of a 50/50 joint venture company to produce two types of light-duty diesel engines for use primarily in the commercial market. Beijing Foton Cummins Engine Company will be based in Beijing and will produce two types of engines based on Cummins designs. The feasibility study is the last step before Cummins and Beiqi Foton, a publicly-traded company based in Beijing, sign the joint venture agreement, and it outlines the parameters of the partnership. The joint venture is expected to begin operation in 2006, with production starting as early as 2008...

http://www.theautochannel.com/news/2006/03/07/212598.html

March 8

Chinese vehicle imports surge in Chile

Chilean vehicles imports from China jumped to US$187min cost, insurance and freight (CIF) value, an increase of 71.8% year-on-year, according to the Latin America News Digest, citing Chilean customs data. Motorcycle imports from China doubled in 2005, compared to a year earlier, and industrial vehicles imports rose 75%. Imports of Chinese buses also increased.

http://www.just-auto.com/news_detail.asp?art=51157

March 9

Key Safety System Eyes China's $700m Auto Safety Market

KEY Safety System, one of the world's leading automotive safety system makers, opened its US$30 million Asia technology and manufacturing center in Shanghai yesterday. The center, which is operated by Yanfeng Key (Shanghai) Automotive Safety Systems Co Ltd, a joint venture of KSS and Yanfeng Visteon Automotive Trim Corp, is set to be the largest safety system manufacturing and engineering plant in China. The facility will mainly produce airbag modules, seat belt assemblies and steering wheels and will have more than 1,000 employees. The annual production capacity is set at 2 million steering wheels, 5 million airbag modules as well as 2 million seat belt assemblies for the Chinese, European and North American markets.

http://www.shanghaidaily.com/art/2006/03/09/247702/KSS_eyes_US_700m_auto_safety_market.htm


March 9

China's Automobile and Retail Stocks Expensive

China's automobile and retail stocks are now expensive by global standards after a strong run this year, but steel and metals firms may still be attractively priced compared with their peers. Automobile production capacity exceeded demand by 2 million units last year, causing vehicle profits to fall by 38 percent. But that does not prevent burgeoning Chinese auto makers from enjoying a hefty price premium over established names abroad, partly on the prospect that Chinese brands will make inroads in foreign markets.

http://today.reuters.com/news/newsArticle.aspx?type=reutersEdge&storyID=2006-03-09T095630Z_01_HKG342429_RTRUKOC_0_US-MARKETS-CHINA.xml