Beijing Automobile signed contract with Jiangxi Government on 25 Nov 2013, which agree with government to buy out 70% share of Changhe automobile. Recently, Jiangxi Province has new message.
On 15 Jan, XU Heyi, president of Beijing automobile joins Changhe management conference at first time. At the conference, XU Heyi said that “Beijing Automobile”and“Changhe Automobile” will operate separately.
According to reporter known, Changhe automobile will integrate its passenger car and SUV platforms, and synergy development, introduce into AO class, a class, and SUV products.
According to Beijing automobile plan, “Beijing Automobile” and “Changhe Automobile” sales will reach 2 million to 2020.
At conference, ZHANG Xiyong, general manager of Beijing Automobile Group signed agreement with Jingde Town major YAN Ganhui and Jiujiang City major ZHONG Zhisheng. Accordingto the agreement, Beijing Automobile will build Changhe Automobile as “South Base” of Beijing Automobile.
According to the promise that Beijing Automobile merging Changhe Automobile, Beijing Automobile and Jiangxi Governmentshall invest 1.3 billion Yuan into Changhe Automobile during 2014 to 2017. The capital will build Changhe Automobile with 500 thousand production capacity and 300 thousand powertrains. And it will invest into Jingde Town and Jiujiang production base technology upgrade.
During 2018 to 2020, the investment shall up to 14 billion Yuan. At that time, Changhe will own about 1 million cars and 600 thousandpowertrain production capacity.
With the agreement signed up, Beijing Automobile starts to cash in its promise. Up to 2020, Beijing Group will enlarge investment into Jiangxi automobilesupply chain build. It will make sure those Changhe Automobile 1 million cars sales and 10 billion Yuan income of the entire automobile production and sales chain.
At the first management conference of Beijing Automobile Group Changhe Automobile, the new board of directors, supervisors and management include President XU Heyi, president of board of supervisors SHANG Yuanxian, general manager TONG Zhengrong, CFO MA Yongwei and Party secretary and Discipline Committee, Union Officials CHENG Dongjiu.