New GM/FAW China joint venture

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Thread: New GM/FAW China joint venture

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New GM/FAW China joint venture

I hadn’t heard anything about this but China Daily is reporting the creation of a joint venture between GM and First Automobile Works China to produce commercial vehicles. They appear to light commercials.


GM China FAW Establish Light Commercial Vehicle Joint Venture

GM China FAW Establish Light Commercial Vehicle Joint Venture

Source: MEDIA.GM.COM

Michael McWilliams

GMInsidenews.com

Australia Correspondent

Today in Changchun, China, GM China and FAW Group Corp. announced the establishment of a joint venture that will become the FAW-GM Light Duty Commercial Vehicle Co. Ltd.

Whilst the FAW Group has a broad range of products spanning 28 wholly owned subsidiaries and part ownership of another 18 companies, today’s announcement is focused on the production and sale of light duty trucks and vans. These vehicles will remain badged as FAW products locally, however, GM derivatives will most certainly be appearing elsewere, allowing FAW-GM Light Duty Commercial Vehicle Co. LTD to leverage each brands exposure at home and abroad.

Our new joint venture combines the expertise of two industry leaders in a partnership that benefits both, said Nick Reilly. It will address demand in China and other markets for high-quality, affordable products in one of the industry s most robust segments, while complementing the portfolio of products that GM and FAW currently offer. It sends an important signal of GM s ongoing commitment to China through our strategy of working in China, with China and for China.

Light-duty commercial vehicles will play a strategic role in China s urbanization and rural development, said Xu Jianyi. FAW and GM have a common understanding of the importance of the global commercial vehicle market, including the China market. Cooperation is not only the key for the two partners to achieve our strategic goals. It is also a proactive step for helping the Chinese government realize its plan of restructuring and further developing the automotive industry, broadening the market share of local self-owned brands and enhancing FAW s performance.

The new joint venture will benefit by leveraging both partners resources in product development, research and marketing to help satisfy increasing domestic and global demand for light commercial vehicles. It will provide China s consumers vehicles that are reliable and offer good value for money.

It will be a 50-50 arrangement with both companies providing RD, after sales support and development of export markets. The joint venture signals an important step for GM, establishing a strong working partnership with an established Domestic brand, providing the types of vehicles that will continue to serve as the backbone for continued growth in the region.

You can check out FAW Groups products HERE

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