On April 28, the signing ceremony of the Sichuan Hyundai Motor joint venture project was held in Chengdu. Sichuan Nanjun Automobile Group and Korea Hyundai Motor Co., Ltd. signed a Sino-foreign joint venture contract, and Hyundai Motor will formally enter Sichuan Province to jointly build a world-class commercial vehicle production base with international competitiveness and independent research and development capabilities in Ziyang City.
Deputy Secretary of the Sichuan Provincial Party Committee, Secretary of the Standing Committee of the Provincial People’s Congress Party Committee and Deputy Director Li Chongxian, Vice Governor Huang Xiaoxiang, Ambassador of the ROK to China Liu Youyi, Consul General of Chengdu Zheng Wanyong, President of Korea Hyundai Auto Co., Ltd. Zheng Mengjiu, Vice President Xue Rongxing, National Business Li Jinqi, Director of the Department of Information Technology, Li Jiauo, Deputy Secretary General of the Sichuan Provincial Government, Sun Zhentian, Chairman of the Nanjun Automobile Group, and Zhou Jing, General Manager attended the signing ceremony.
According to the "Sino-Foreign Joint Venture Contract" signed by both parties, Sichuan Nanjun Automobile Group Co., Ltd. and South Korea's Hyundai Motor Co., Ltd. will jointly establish Sichuan Hyundai Motor Co., Ltd. in Ziyang. The two sides will each hold 50% shares, and the first phase will invest 3.6 billion yuan. Make full use of the latest commercial vehicle technologies and core resources of both companies to build a world-class commercial vehicle production base with international competitiveness and independent research and development capabilities, and plan to manufacture medium- and long-term electric vehicles, energy-saving and eco-friendly vehicles, and CNG vehicles that meet China's environmental protection policies. Energy vehicles. We will strive to form an annual production capacity of 150,000 commercial vehicles by 2013, form an annual production capacity of 400,000 commercial vehicles by 2017 and form an annual production capacity of 700,000 commercial vehicles by 2020. After the project is implemented, related industries such as animal currents, automobile trade, and parts manufacturing will be developed to provide strong support for the development of Sichuan and Ziyang automotive industries.
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