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Old 01-15-2008, 03:37 AM   #11
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Mitsubishi, Changfeng to form China auto JV
(Agencies)
Updated: 2008-01-15 09:41


Mitsubishi Motors Corp will set up an automaking venture in China with Hunan Changfeng Motors Co due to rising demand for sport-utility vehicles (SUVs) in the world's second-largest auto market, its Chinese partner said.

"Both Changfeng and Mitsubishi will gain," Changfeng Chairman Li Jianxin said in an interview at the Detroit motor show yesterday. "Mitsubishi will be able to sell more vehicles in China, while we can tap their management and technology to help our expansion in other markets."

Mitsubishi, Japan's fastest-growing auto exporter, follows Toyota Motor Corp and Nissan Motor Co in adding capacity in China, as economic growth boosts demand for vehicles. The venture may also help Changfeng, which generates 70 percent of sales from the government, sell more vehicles to companies and individuals.
"Having a venture like that will help Mitsubishi sell more vehicles in China," said Wang Liusheng, an analyst with China Merchants Securities Co in Shenzhen. "Changfeng will be able to add more models in its lineup."

The venture will initially make as many as 100,000 sedans and SUVs a year, Li said at the North American International Auto Show. This tally may eventually double, he added, declining to provide a timeframe for the project.

US plant planned

Changfeng Motors Group Co, Changfeng's parent, plans to build assembly plants in the US and Europe to gain access to the world's most advanced automobile markets.

"We have been investigating on setting up an assembly here since our year-earlier show," said Li, who is also chairman of the parent company. He said he will reveal details at next year's Detroit auto show.

The company, which doesn't have any overseas plants now, is also talking to some European companies about assembling vehicles from kits of pre-assembled parts, Li said without elaborating.

Changfeng joins Geely Holding Group Co and China FAW Group Corp in announcing plans for overseas plants as rising domestic competition causes Chinese automakers to seek new markets overseas.

Geely, China's largest privately owned automaker, said yesterday it plans to build a plant in Mexico and export cars to the US, the world's biggest auto market. The factory, with an initial investment of $500 million, will be able to build up capacity to as many as 300,000 units, the company said.

"Eventually, Chinese automakers will set up factories in the US," said J. Scot Sharland, executive director of the Automotive Industry Action Group in Southfield, Michigan. "It is too expensive to import vehicles."

http://www.chinadaily.com.cn/bizchin...nt_6394879.htm
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Old 01-17-2008, 10:30 AM   #12
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Mitsubishi's new Chinese JV plan may hit bumpy road ahead!

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January 17, 2008 - Mitsubishi Motors' longstanding plan to set up a new joint venture automaker in China now runs into snags, as the program may be blocked by China's auto industry regulations, the Shanghai-based Oriental Morning Post reported today.

"We are still studying the joint venture plan," said Hiromi Endo, general manager of Mitsubishi Motors Beijing Office, who didn't explain how to bypass the regulation problems.

Under the Revised Regulations on Automotive Industry stipulated by central government in late 2006, new players must have at least a total investment of 4 billion yuan ($550.7 million) in order to enter the auto-making industry. Besides that, passenger vehicle makers must have engine-making facilities with total investment of no less than 1.5 billion yuan ($206.5 million).

But the two parties, Mitsubishi and Hunan Changfeng Motors currently fail to find an engine plant as required by the policy.

"We’ll try our best to meet the government requirements so as to start the joint venture as early as possible," an unnamed Changfeng official.

Earlier reports revealed that the JV would be a 50:50 alliance. And it would build sedans and sports-utility vehicles (SUVs) if approved.

Mitsubishi already owns a 16.07% stake in Hunan Changfeng, but this deal would consolidate the their partnership. Changfeng now builds Pajero and Pajero Pinin that sold in Chinese market.
source: Gasgoo.com
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Old 04-14-2008, 09:05 AM   #13
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Default Re: Mitsubishi Motors Mulling New Auto JV in China

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Originally Posted by Rally Red Lancer GTS

Perhaps a joint venture with Chagfeng can produce a mini-car for the Chinese market and Iran and Pakistan and South America and maybe even Europe and NA? Mitsubishi's fortunes have picked up considerably by their 2007 sales in NA.
Thanks! This is very interesting information! Write more, please [email protected]
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Old 10-08-2008, 06:07 PM   #14
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Default Re: Mitsubishi Motors Mulling New Auto JV in China

This is a very huge project which is launched by Mitsubishi Motors in china. Investors all over the world who are interested in invest their money in car industry are gathering their. So let’s hope for good.

James White

Last edited by jameswhite; 10-08-2008 at 06:22 PM.
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Old 10-19-2009, 10:23 AM   #15
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Mitsubishi may not invest more in Changfeng Motor.

October 19, 2009
Mitsubishi Motors has not decided yet whether to invest more in Hunan Changfeng Motor, after the latter is acquired by Guangzhou Automobile Group, SinoCast Daily reported recently, citing a top executive of Mitsubishi Motor Sales (China) Co.

Changfeng Motor, based in the central Chinese city of Changsha, Hunan province, expects to cooperate further with Mitsubishi Motors for a sharper competitive edge, but no substantial progress was made. That partly accounts for Changfeng's shift of its focus onto Guangzhou Auto.

In late June 2009, the technology transfer contract between the Japanese automaker and Changfeng Motor expired, and Mitsubishi Motors declined to make a renewal. The Hunan government therefore strongly supports the merger of Changfeng Motor into Guangzhou Auto for its automaker's development of own-brand models.

After a 29% stake in Changfeng Motor was sold to Guangzhou Auto, which will become the Hunan car company's biggest shareholder, 14.59% of Changfeng Motor will be still held by Mitsubishi Motors. The rest will be owned by Changfeng's parent company.

In China's auto industry, Mitsubishi Motors also keeps a close partnership with South East (Fujian) Motor. Presently, some of its distributors sell the imported Mitsubishi-branded vehicles and the car models produced by its two Chinese auto ventures.

On October 13, Mitsubishi Motors unveiled the 2010 Outlander EX, indicating that it has preliminarily completed the SUV layout in China. The Japanese carmaker aims to sell 16,000 vehicles in China from April 2009 to March 2010.

http://autonews.gasgoo.com/auto-news...eng-Motor.html
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