GAC to build passenger car base in central China
2013-August-28 Source: Newsgd.com
Text Size: A A A | Print | Share by E-mail:

Guangzhou Automobile Group Co., Ltd. (hereinafter "GAC") yesterday (August 27) announced that it will build a new passenger car base of self-owned brand through a merger with ZXAUTO Yichang Base (Hubei Province), thus expanding its operation to central China.

Guangzhou Automobile Group Motor CO., LTD (GAC MOTOR), GAC’s wholly-owned subsidiary, will take charge of the merger and set up the GAC Motor Yichang Base, with a budget of 700 million RMB.

Apart from that, GAC and ZXAUTO will set up another company together with a registered capital of 500 million RMB, 40% belonging to GAC and 60% to ZXAUTO. The joint venture will carry out auto parts purchasing, producing and integration.

After the move, GAC will have altogether three bases, one in south China with its center in Guangzhou, one in east China with its center in Hangzhou and the third one in central China, centered on Yichang.

Editor: Jane
Related News
This site contains material from other media for content enrichment purpose only. The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement. The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content. For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
Info for Non-Residents