Guangzhou and Gonow sign JV deal
From China Car Times
July 31, 2009
Gonow Auto, a small privately owned SUV and pick-up truck manufacturer based in Taizhou City, has signed a 50:50 joint venture with Guangzhou Automotive Group.
Details of the JV are still sketchy, but it appears that Gonow has put fixed assets into the deal, whilst Guangzhou Auto are set to invest cash into the deal. The deal will see Guangzhou Auto and Gonow move into Gonow’s Hangzhou facility, but it is unclear if they will continue to build Gonow vehicles, or if Guangzhou vehicles will be introduced. It would be wise to remember that Guangzhou did buy Changfeng Auto, another SUV truck maker who plan to build a new range of pick up trucks in China and also hybrid SUV’s.