Taiwan automaker expands China business
20/1/2004 15:48
China Motor Corp., one of the leading automobile manufacturers in Taiwan,
announced yesterday an investment plan to expand its car making plant in China,
which could probably cost US$300 million, the Homeway.com reported.
The
company, a subsidiary unit of Yue Loong Motor Co., said it has just united some
30 Taiwan auto part suppliers to cough up a total US$80 million to purchase a
3,000-mu (200 hectares) lot in Qingkou, Fuzhou, capital of South China's Fujian
Province.
On the venue, it plans to build a new auto plant this year to help
raise the company's existing investment in Chinese mainland, Southeast Motor
Corp.'s yearly output to more than 200,000, China Motor said.
Southeast Motor
sold 83,500 vehicles last year, up nearly 80 percent over the previous 47,068.
Upbeat about the performance, the company said it will introduce a 2000CC
SAV RIN model and another Mitsubishi business vehicle this year.
It has
received orders of more than 140,000 vehicles this year, a half jump from the
past year.
Southeast Motor feels it impossible to complete the orders with
its existing yearly capacity of 60,000 cars.
Jane Chen / Shanghai Daily news
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