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Iran Khodro establishes JV with Chinese manufacturer Jinhua Qingnian
5th September 2006
The Iranian state-controlled Iran Khodro and Jinhau Qingnian Automotive Co. have agreed to establish a joint venture assembly plant in Taian City in the eastern Chinese province of Shandong to manufacture the Iranian-designed but PSA-derived Samand saloon car, according to the China Economic Daily’s website yesterday.
Annual production at the plant will begin with 30,000 units per annum, while both parties are targeting an eventual volume of 120,000. Jinhua Qingnian will hold a 70 percent stake in the joint venture and the Iranian company will hold 30%.
PSA Peugeot Citroen, which has existing joint projects with Iran Khodro, will supply components to the Chinese plant, according to the Chinese source.
- Over 3.53 million vehicles were sold in the six months to June, up 26.7% year-on-year, according to China Association of Automobile Manufacturers data reported in July. Domestic car production rose to 1,89m units, total Chinese vehicle production having risen 28.9% year on year to 3.6 million units, of which 1.89 million units were passenger cars.
(www.iranfocus.com)
- Great Wall Motor, China’s biggest light commercial vehicle manufacturer, is to start assembling LCVs in Russia next year, with plans to invest ca. $100m in an assembly plant in Tatarstan. The project reportedly has the blessing of both the Russian and Chinese authorities.
5th September 2006
The Iranian state-controlled Iran Khodro and Jinhau Qingnian Automotive Co. have agreed to establish a joint venture assembly plant in Taian City in the eastern Chinese province of Shandong to manufacture the Iranian-designed but PSA-derived Samand saloon car, according to the China Economic Daily’s website yesterday.
Annual production at the plant will begin with 30,000 units per annum, while both parties are targeting an eventual volume of 120,000. Jinhua Qingnian will hold a 70 percent stake in the joint venture and the Iranian company will hold 30%.
PSA Peugeot Citroen, which has existing joint projects with Iran Khodro, will supply components to the Chinese plant, according to the Chinese source.
- Over 3.53 million vehicles were sold in the six months to June, up 26.7% year-on-year, according to China Association of Automobile Manufacturers data reported in July. Domestic car production rose to 1,89m units, total Chinese vehicle production having risen 28.9% year on year to 3.6 million units, of which 1.89 million units were passenger cars.
(www.iranfocus.com)
- Great Wall Motor, China’s biggest light commercial vehicle manufacturer, is to start assembling LCVs in Russia next year, with plans to invest ca. $100m in an assembly plant in Tatarstan. The project reportedly has the blessing of both the Russian and Chinese authorities.