SUCCESS AND BRIGHT MAY OCCUR THROUGH EMPOWERMENT
The Chinese government has taken another important step in opening its broader auto industry to domestic private investors by allowing Brilliance Auto to produce and sell its cars.
Brilliance Auto, a subsidiary of China Brilliance, a financial company and the private manufacture, said yesterday that it has won a green light from the central government to produce and sell self-developed sedan Zhonghua-brand of the company.
We are very happy the government's decision, said Sheng June division chief sales Brilliance Auto.
The government's decision came six months after it helped Geely Group, a private automaker in East China's Zhejiang Province, to produce and sell cars.
Asked about the decision, Su Bo, an official of the Economic and Trade Commission State, said it indicates that the industry will gradually open up more to the non-state investment with the deepening of the reform of the collection funds.
State investment has dominated the industry, now facing great challenges following the entry into the World Trade Organization last December China.
Sheng said the Zhonghua sedan, which came out of last December assembly line at the plant in Brilliance Auto in Shenyang, Liaoning Province of Northeast China, will be launched this fall.
Components Zhonghua will be bought in the world, said Sheng.
Prices of Zhonghua model, with 2 0 liter or larger engines, ranging from 150,000 yuan to 250,000 US yuan 18100 US 30 000, said Sheng.
Brilliance Auto plans to develop 60 franchise dealers to Zhonghua sedans in the country by the end of this year, he added.
The company said the German car manufacturer BMW is providing technical assistance to Brilliance Auto on the Zhonghua sedan Both companies expect government approval for a project passenger car joint venture.
Su said the government will approve the proposed joint venture soon, however, Brilliance Auto did not mention at a press conference yesterday.
According to Suo Yan, spokesman of China Brilliance Group, automobile manufacturing is the main business of the company.
China Brilliance Group, which has seven listed subsidiaries in New York, Hong Kong and Shanghai, has invested more than 5 billion yuan 604 million US in the automotive sector over the past 10 years.
We are seeking more cooperation with foreign partners, said Suo.
The company is also in talks with French automaker Renault to build a passenger car joint venture in the central province of Hubei.
Brilliance Auto said it expected to start production of cabins Austin brand at its plant in Shenyang in cooperation with the British manufacturer Manganese Bronze Holdings at the end of this year.
The company also said it will launch its commercial wagon through the market next month The model is made in collaboration with the largest automaker Toyota Motor Corp. Japan
Brilliance Auto is also produced now Sea Lion brand bus whose sales reached more than 23,000 units so far this year, the company said.
The company said it displays its Zhonghua, Grace and sea lion brand Beijing International Auto Show, scheduled from June 6 to 13.
Success Shines on Brilliance, brightness, China Brilliance Group, Project joint venture.