Autos in Guangzhou still Strong Growth
2008-10-20 Source：english.chinabuses.com
Official statistics show Guangzhou had secured 391 auto and component projects involving capital inputs of $6.29 billion including overseas capital of $1.59 billion by the end of last year. And 107 received capital investment of over $10 million each. Via close cooperation with global auto giants, Guangzhou has built up rich human resources in manufacturing technology and management. It has come to a stage for greater efforts in R&D as well as for the development of self-owned brand products strategically meaningful to the sustained development of the automobile industry. Construction is underway as scheduled for the group's center for R&D work and production of self-owned brand products ranging from engines to transmissions and entire vehicles in the city's Panyu district.
Covering an area of 1.5 million sq m, the facility will require a total investment of 6.8 billion Yuan, 3 billion Yuan of which will be for R&D facilities and 3.8 billion Yuan for production lines. The site aims to produce 100,000 vehicles and 100,000 engines annually at the initial stage of the project, and 200,000 vehicles and 250,000 engines annually when fully operational.
Reliable sources say that Guangzhou plans to assemble 1.3 million vehicles by the year 2010 and realize a gross industrial output of 200 billion Yuan from the assembled vehicle sector as well as 100 billion Yuan from the component sector. The city also aims to generate $1.8 billion worth of exported components and assembled vehicles by 2010.
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