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Guangzhou Automobile Group and ZX Auto, in association with China Auto Parts and Accessories, have held a signing ceremony in Yichang, Hubei, autohome.com.cn reported today. GAC Group, ZX Auto and CAPAC will cooperate in the fields of automobile development, auto part R&D, energy-saving and new energy cars, international operations and logistics.

The three companies will also work together to establish a comprehensive automobile factory in Yichang. The factory will possess an annual production capacity of over 450,000 automobiles. The partnership will not affect the companies' equity at the moment, however both GAC and ZX Auto have already begun negotiations regarding future cooperation in this aspect.

ZX Auto, a Chinese SUV and pickup truck manufacturer, first began building an automobile factory in Yichang in November 2010. The factory, which is designed to manufacture 200,000 sedans annually, is scheduled to be completed in 2014.

http://autonews.gasgoo.com/china-news/gac-zx-auto-and-capac-sign-cooperation-agreement-130518.shtml

The result of the agreement is also Zhongxing CP2 until now known as Chang Feng Acuman which will be first Zhongxin-branded sedan
 
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