The Share Shifting Signing Ceremony of Dongfeng Nanchong Automotive Co., Ltd.
www.chinatrucks.com: Geely Purchased Dongfeng Nanchong and Develops Commercial Vehicles. The share shifting signing ceremony of Dongfeng Nanchong Automotive Co., Ltd. (thereafter shorted as “ Dongfeng Nanchong ” ) was held in Southwest United Property Rights Exchange Agent on March 4th, 2016. The State-owned Asset Supervise & Management Commission in Nanchong City shifted all of the shares of Dongfeng Nanchong Automotive Co., Ltd. to Nanchong Geely Commercial Vehicle Research Institute Co., Ltd., the fully-fund branch of Zhejiang Geely Share Holding Ltd..
Dongfeng Nanchong Automotive Co., Ltd. , one state-owned enterprise who has a 66-year history, stands on the crossroad of its development again with the shifting of its shares. The person who charges Nanchong Geely Commercial Vehicle Research Institute Co., Ltd. said that The person who charge Nanchong Geely Commercial Vehicle Research Institute Co., Ltd. will invest 7 billion RMB to the construction of the research and development of new-energy commercial vehicles after its acquisition of Dongfeng Nanchong Automotive Co., Ltd.. It will build a R&D manufacturing base which can produce 0.1 million new-energy commercial trucks and 50,000 gas engines per year with annual turnover of over 20 billion RMB and tariff of over 1 billion RMB.
The person who charges the State-owned Asset Supervise & Management Commission in Nanchong City said,“The shifting of ‘Dongfeng Nanchong’ is aimed at carrying out strategic restructuring, develop R&D manufacturing program of new-energy commercial vehicles in Nanchong, promote the transformation development of enterprise, improve the automotive industry in Nanchong by bringing in advantageous partner”. The charger said that this shifting is a great breakthrough in the state-owned enterprises reform of vehicle industry in Sichuan Province. It will have profound effect on the layout and development of vehicle industry in Sichuan Province.
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