SAIC teamed up with Iveco to reorganize Chongqing Hongyan Auto finally got its wish. Yesterday, SAIC Iveco Hongyan Commercial Vehicle Co., Ltd. was established and SAIC Fiat Powertrain Co., Ltd. was also listed.
SAIC Iveco Hongyan Commercial Vehicle Co., Ltd. has a registered capital of RMB 1.3 billion and owns 3 heavy truck products from Hongyan, Steyr and Iveco. It is known as “the largest manufacturer of heavy commercial vehicles in the western region.
SAIC Fiat Hongyan is mainly engaged in the design, manufacture and sale of commercial vehicle engine products.
The two joint venture companies that were listed yesterday will go through the opening park Huangmaoping in the northern New District, investing 4.7 billion yuan to build a new base. The first phase of the project is planned to be completed in October next year, with a total vehicle production capacity of 40,000 vehicles and an engine production capacity of 100,000 units. The old base of Chongqing Hongyan Automobile in Shuangqiao District will be built as a production base for key components.
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