BYD Intends to Buy Midea Sanxiang Bus
13 July 2009
English.chinabuses.com: Midea Group Changsha Industrial Park located in central China’s Hunan Province has discontinued its operation for six months. However, our reporter learnt some good news that the dismal situation of the park will change very soon. BYD Auto Co., Ltd. (hereinafter referred to as BYD), one of the representatives of China’s indigenous auto makers, is now intending become the new owner of Midea Sanxiang Bus, a production facility based in the park.
Changsha Industrial Park
According to a business invitation report released by Changsha Municipal Government, BYD is now planning to establish its third production base in China on the basis of Midea Group Changsha Industrial Park. With a total investment of over RMB 2 billion, the new base will boast an annual income of more than RMB 10 billion and be capable of producing 200,000 units of BYD branded F0 passenger cars and midi buses as well as related auto parts & accessories.
An official from Changsha Municipal Government who spoke on condition of anonymity told our reporter that the government is now actively involved in assisting the two parties’ further negotiations. He declined to specify any detailed information.
Source : english.chinabuses.com
Editor : Mark
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