Brilliance China Automotive Holdings, the Chinese partner of BMW, has inked an agreement with Pyeonghwa Motors of South Korea to assemble its Jinbei Haice mini-buses in North Korea.
Pyeonghwa has set a sales target of 12,000 units over five years for the CKD vehicles.
It also wants to bring the Haice and Brilliance’s Zhonghua sedans into South Korea. This gives Zhonghua another boost, following it’s a deal last November with HSO Motors Europe, a German car importer, to ship 158,000 unit to Europe over the next five years.
In a joint statement, the companies said that if the Haice project is successful, they are “very likely to consider further cooperation on the production of Brilliance China's other brands of vehicles in North Korea.”
Pyeonghwa has a joint venture assembly plant in North Korea, which is 30% owned by the North Korean government.
It also signed a contract in November last year with HSO Motors Europe, a German auto importer, to ship 158,000 units of its Zhonghua branded cars to Europe over the next five years.
Brilliance China's 2006 unit sales surged more than 70% to 210,000 vehicles, including 8,655 exports.
Pyeonghwa has set a sales target of 12,000 units over five years for the CKD vehicles.
It also wants to bring the Haice and Brilliance’s Zhonghua sedans into South Korea. This gives Zhonghua another boost, following it’s a deal last November with HSO Motors Europe, a German car importer, to ship 158,000 unit to Europe over the next five years.
In a joint statement, the companies said that if the Haice project is successful, they are “very likely to consider further cooperation on the production of Brilliance China's other brands of vehicles in North Korea.”
Pyeonghwa has a joint venture assembly plant in North Korea, which is 30% owned by the North Korean government.
It also signed a contract in November last year with HSO Motors Europe, a German auto importer, to ship 158,000 units of its Zhonghua branded cars to Europe over the next five years.
Brilliance China's 2006 unit sales surged more than 70% to 210,000 vehicles, including 8,655 exports.