Changan Auto slows down plans to enter North American market
By Andrew C., 30 Aug, 2010. 0 Comments
Changan Automobile Group‚ plans to build a Mexican plant may have encountered glitches; however, it says that it will not stop at trying to penetrate the North American market. Changan, China's No. 3 automaker, told Reuters that it is still conducting market research and that for the time being, it won‚Äôt be investing heavily.
Zhu Huarong, head of Changan's research and development division, said that the company slowed down the pace of its plant due to the financial crisis but that the plan is unchanged. The deal for Changan, a Ford Motor China partner, to set up in Mexico had been signed last year yet. Changan is included in a growing breed of Chinese automakers, including SAIC Motor Corp., which intend to achieve the success that Japanese carmakers such as Toyota Motor have attained. SAIC, which leads the pack, had purchased MG Rover's 10,000-unit Longbridge plant in Britain in 2007 and intends to begin production of the MG 6 sedan in the UK, its president Chen Hong recently said.
[via reuters]
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