CHINA NEWSLETTER June 28 2011
 
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Volvo to build second plant in China
Automotive News China
Volvo Car Corp., owned by Chinese automaker Zhejiang Geely Holding Group Co., plans to build its second China plant in Daqing of northeast China's Heilongjiang province. The plant will produce three Volvo models -- the 113K sedan, the XC60 SUV and an unspecified MPV, according to information released on the Web site of China's Ministry of Environment Protection. The Volvo factory is scheduled to start production in 2013 and to reach full annual capacity of 80,000 units by 2015.
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Jianghuai plans to export vehicles to India
Automotive News China
Chinese automaker Jianghuai Automobile Co. plans to sell commercial and passenger vehicles in India, according to Indian newspaper Business Standard. Jianghuai will first introduce its commercial vehicles and then passenger vehicles in India, the business daily reported, citing a Jianghuai spokesperson. The Chinese company has yet to release a time frame for entry into the Indian market.
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PSA's China venture exports Peugeot 408 to Egypt
Automotive News China
Dongfeng Peugeot Citroen Automobile Co., a joint venture between PSA and China's Dongfeng Motor Corp., launched exports last week when 120 Peugeot 408 compact cars were loaded on a ship bound for Egypt. This is the first time the joint venture has exported cars. The company aims to expand exports over the next few years, it said in a statement, without providing a specific target. The move has also made PSA the third global brand to export cars from China, following GM and Honda.
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Shanghai GM cleared to add plant, boost vehicle output 50% in Shenyang
Automotive News China
Shanghai General Motors Co. has received the green light from China's environment regulator to expand its production complex in Shenyang in northeast China's Liaoning province. A 7 billion yuan ($1.1 billion) factory will be built near the existing plant, according to China's Ministry of Environment Protection. Shanghai GM, a 51-49 joint venture between SAIC Motor Corp. and General Motors Co., produces Buick, Chevrolet and Cadillac passenger vehicles.
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Honda's Foshan workers get 32% pay raise
Automotive News China
Beginning workers at Honda Motor Co.'s transmission and engine parts plant in Foshan were granted a 32 percent base pay raise to 2,532 yuan ($391) a month, reported the Yangcheng Evening News, a local newspaper. Management also agreed to provide pay differentials for the plant's technicians and increase employees' base salary after three years on the job. In May 2010, workers at the plant went on strike to demand higher wages. The strike disrupted parts supply to Honda's two production joint ventures in China and forced them to halt production for several weeks.
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Pang Da says Saab purchase is on schedule
Bloomberg News
Pang Da Automobile Trade Co. said it is on schedule to buy a stake in Swedish Automobile NV, the owner of Saab Automobile AB, after Saab temporarily halted production because it lacked cash. "There's no change to our previous plan," Pang Da Board Secretary Wang Yin said in an interview Friday. "Saab is having temporary financial difficulties and the problem isn't fundamental." Pang Da has paid 45 million euros (412 million yuan) for Saab cars and plans to spend 998 million yuan for a 24 percent stake in Swedish Automobile, formerly known as Spyker Cars NV.
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Chrysler aims to add dealers in China
Bloomberg News
Chrysler Group wants to expand its dealer network in China by 39 percent over the next two to three years. The automaker has 127 dealerships covering about 60 percent of the market in China, said Mike Manley, head of Chrysler's international operations. He wants to add 50 stores within two to three years and hopes to double the number in more than five years. "There are still big chunks of the market that we don't have dealerships in," Manley told reporters at a Chrysler event in Michigan last week. "We need to expand and grow."
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 TOP 10 HEADLINES
OF THE LAST WEEK

China's passenger vehicle exports rise 76% in July

Chery creates joint venture to grow in Africa

BYD's profit tumbles 89% in first half

SAIC to launch sedan built on new Regal platform

FAW builds its first plug-in and EV

Fuyao Glass' profit drops 9% on rising costs

Porsche designs may be shaped by Chinese

Visteon to invest in supplier Wuhu Bonaire Auto

Coda to convert Great Wall vehicles into EVs

Chery sees 10-year road to profit in Brazil



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