| GM launches light truck joint venture with China's FAW |
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| Monday,August 31,2009 Posted: 15:31 BJT(0731 GMT) |
| From:bh Article type:Original |
CHANGCHUN, Aug. 30 (Xinhua) -- American General Motors (GM) and China's state-owned automaker FAW Group Corp. (FAW) announced Sunday a two billion yuan (about 293 million U.S. dollars) joint venture to make light-duty trucks and vans.
The new venture, announced as 50-50 cooperation by the two sides, is based in Changchun, capital of Jilin. It will focus on the production and sale of light-duty trucks and vans and also engage in research and development, exports and after sales support, according to the two companies. It includes Harbin Light Vehicle Co., Ltd., in the neighboring Heilongjiang Province and FAW's share in Hongta Yunnan Automobile Manufacturing Co., Ltd. southwest China's Yunnan Province. |
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