Chang'an-Suzuki auto company to double output

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Last updated at: (Beijing Time) Thursday, December 11, 2003

Chang'an-Suzuki auto company to double output

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Chang'an-Suzuki Automobile Co., Ltd. in southwest China's Chongqing Municipality has announced that it will add 800 million yuan (about 96.4 US dollars) of investment to enlarge its auto production capacity.

By 2007, the company will put four or five new car models on the Chinese market and its annual output will reach 200,000, doubling the current figure of 93,000, sources with the Japan Suzuki Co. said.

Chang'an-Suzuki was set up in 1993 with a joint investment of 190 million US dollars by Chang'an Group, Japan Suzuki Co. and Nissho Iwai Corp. After the new 800 million yuan investment, Chinese ownership will remain at 51 percent.

By the end of November, Chang'an-Suzuki had acquired a 5.5 percent share in the Chinese mainland's car market with sales income of 4.26 billion yuan (513 million dollars) and profit of 280 million yuan (33.7 million dollars), company sources said.

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