Guangzhou Auto signs JV deal with Chinese private automaker
China state-owned Guangzhou Automobile Group Co. (GAC) has signed a framework agreement with Zhejiang Gonow Auto, a private-owned pickup manufacturer, on building a 50:50 joint venture in the east China city of Hangzhou, according to Chinese media reports.
Miao Xuezhong, president of Gonow Auto, told Sina.com that the company did reach an initial agreement with GAC on a JV deal but the two sides are still working on details.
Citing an informed source, Beijing Youth Daily said that the two sides would make joint investment to set up a joint venture in Xiaoshan, Hangzhou, based on Gonow's existing facility there. Gonow will invest in terms of fixed assets while GAC will inject cash.
The investments will go towards the expansion of facilities and introducing an enhanced range of products and businesses in the country.
Views:0
- GAC HINO 480/560HP Tractor Head to be Unveiled 2022-07-06
- GAC Hino Upgraded Truck with ZF 16-speed Transmission Gearbox to Hit the Market 2019-05-08
- GAC Hino Signs a Deal With Major Customers in Tokyo 2019-04-25
- GAC Hino Heavy-duty Truck Sales Grew 140% in 2018 2019-01-16
- GAC Hino Sales Jumped by 148% From January to August 2018-09-26
- GAC Hino Rolls Out 700 Zhenzhi Truck for Transporting Dangerous Chemicals 2018-08-27
- GAC Hino Holds a Ceremony to Sign and Delivery 1,000 Car Trailers and Vans 2017-04-14
- GAC HINO 4x2 Van to be Launched across China in April 2017-04-01
- GAC Hino Rolls Out Three Series of New Trucks 2015-12-29
- 60 GAC Hino Trucks Play An Essential Role in Wanluda Transportation 2015-11-09
Submit Your Requirements, We Are Always At Your Service.
- Jiefang Partners with FCTS to Develop Hydrogen-Powered Car Transport Vehicles
- Farizon Auto Sets Roadmap for Global Expansion
- JMC Assembles Kaiyun Euro 5 Models in Vietnam
- SuperPanther Teams up with DHL for Sustainable Logistics
- SuperPanther Partners with Steyr Automotive to Launch Electric Heavy-Duty Trucks
- JAC Showcases T9 EV Pickup at 2024 EVA Frankfurt Electric Vehicle Expo
- Zoomlion Reports Record Overseas Revenue Growth for H1, 2024
- Madagascar President Rajoelina Visits Foton Motor
- European Premiere for Kia PBV at IAA Hannover 2024
- SAIC Maxus RV Debuts at Düsseldorf Caravan Show in Germany
- Heavy Truck Sales Reach 59,000 Units in July in China
- Tractor Sales in H1, 2024 Reached 162,100 Units, Up 4%
- China's Truck Export Reaches 351,076 Units in H1 2024
- XCMG Dominates 2024 with Record Sales in New Energy Heavy Trucks
- Mid-Year Pickup Market Report: JAC Exports Up 13%, JMC Exceed 36,000 Units
- Truck Exports in May 2024: China Exported Close to 65,000 Trucks
- Exports of Pickups Reached 22,892 Units in May
- Exports Surge by 157%! DFAC Exports 9,628 Vehicles from January to May
- China's Heavy Truck Exports Rising 58% YOY to 276,000 Units in 2023
- China Exported 507,000 Trucks from Jan.-Sept., Up 21% YoY
