FAW in truck joint venture with Russia's GazGroup
|
 |
 21.11.2011 |
Chinese automaker FAW Group and Russian billionaire Oleg Deripaska's Gaz Group - one of Russia's largest car manufacturers - plan to start operation of a Russian joint venture from 2012, according to Bo Andersson, CEO of GAZ Group.
The 50-50 joint venture is planned for the city of Miass in the Urals region making heavy trucks sold in Russia under the FAW brand. Initial production capacity is expected to be 10,000 units a year.
Although Gaz Group did not release the size of its investment in the joint venture, observers say it is likely to be at least $5 billion (about 31.7 billion yuan).
China Daily - Hong Kong Edition
<< previousnext >>
back to the news archive
|
