BIZCHINA> Auto Industry in China
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BIZCHINA> Auto Industry in China
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Market maneuvers in China's auto industry
(China Daily)
Updated: 2006-11-20 16:20 10. Foray into US market Nanjing Automobile Group, the partner of Italian carmaker Fiat Auto, announced in July it will build cars under the acquired British brand MG at a plant in Oklahoma in the United States in 2008. This will make Nanjing Automobile the first Chinese automaker to produce cars in the United States, the world's biggest and most competitive car market. According to the company's plan, it will make a redesigned MG TF coupe in the Oklahoma factory. The plant will be the brand's third manufacturing site in the world after its two in Longbridge, England, and Nanjing - capital city in East China's Jiangsu Province. However, analysts are sceptical of the project as Nanjing Automobile has been seeing losses for many years and MG is a tiny-volume brand. Nanjing Automobile last year paid 53 million British pounds (US$91.3 million) to buy the MG brand, the plant in Longbridge and Powertrain, the engine arm of MG Rover. (For more biz stories, please visit Industries)
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