Sichuan Secures RMB50b in Deals Involving Auto Industry

Authors: Go Chengdu

2014-09-19

Around 300 well-known enterprises in the automobile industry attended the Sichuan Automobile Industry Development and Investment Forum in Chengdu on August 26.
During the event, framework agreements and contracts for 48 projects involving RMB50.9 billion (approx.US$8.08 billion) were inked.
According to official statistics, the total output value of Sichuan’s automobile industry reached RMB189.2billion (approx.US$30.52billion) last year, up 38.4% year on year. In 2013, Sichuan’s carmakers produced 807 thousand vehicles, soaring 101.7% compared with the same period of a year ago.
In this year’s first half, the province’s output value of the automobile industry increased by 19.8% year on year, and the total output value of this year is expected to realize RMB200billion (approx.US$32.26billion).
FAW-Volkswagen to Boost Chengdu Investment by RMB4b
The FAW-Volkswagen Chengdu plant signed 6 agreements involving a total investment of RMB12.1billion (approx.US$1.95billion) at the Sichuan Automobile Industry Development and Investment Forum on August 26.
General manager of FAW-Volkswagen Zhang Pijie said that the company is projecting the fourth phase of its Chengdu facility to improve the production capacity according to the agreements.
With a total investment of RMB4billion (approx. US$645.16million), the fourth phase of Chengdu base is expected to put into operation and create nearly 10 thousand jobs in 2016. By then it will increase the company’s annual vehicle output to 700,000 vehicles.
“We will invest more in Sichuan and strengthen the cooperation with the province and Chengdu. After completion of the construction of Chengdu base’s fourth phase, Chengdu will become the second largest production base of FAW-Volkswagen after the Changchun headquarters,” Zhang said.
“Made in CD” Volvo Vehicles to be Exported to US Next Year
“The Chengdu-made Geely GX9, a full-size SUV model,will be launched in September, the Volvo S60L plug-in hybrid sedans are to be put into production in Chengdu plant, and the Volvo vehicles made in Chengdu will be exported to the United States next year,” said Li Shufu, chairman of Zhejiang Geely Holding Group Co., at the Sichuan Automobile Industry Development and Investment Forum in Chengdu on August 26.
As the first production base of the Volvo Car Corp outside Europe, the Chengdu base which is a cooperation with the Zhejiang Geely Holding Group Co. has been functioning well since it got operational in 2013.
Volvo’s Chengdu base plans to produce the advanced Volvo S60L plug-in hybrid sedans, which will be exported to the United States next year, and the made-in-Chengdu sedans are scheduled to hit the Chinese market next year. In addition, Geely GX9, a full-size SUV model, will be put onto the market in September.
Geely’s Chengdu plant has become an exclusive production base for Geely’s SUV series, and it has a capacity of 100,000 vehicles annually. A new SUV model of Geely is scheduled to put into production in Chengdu base in the near future.

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