On October 21, 2010, Korea Hyundai Motor Co., Ltd., Ziyang City, Sichuan Province, and Nanjun Motors Sichuan officially signed a cooperation agreement in Chengdu to jointly build a Sichuan Hyundai automobile production base project. The project plans to invest 3 billion yuan, through complementary advantages. In the future, it will be built into a globally competitive world-class commercial vehicle base. Chairman of Sichuan Provincial Party Committee and Provincial People’s Congress Standing Committee Liu Qichen, Deputy Governor Huang Xiaoxiang, Consul General of the Korean Consulate General in Chengdu Jin Yidou, Deputy Chairman of Korea Hyundai Auto Co., Ltd. Xue Rongxing, Cui Hanying, Ziyang Municipal Committee Secretary Li Jia, Mayor Luo Qinhong, Nan Zhen Automobile Group Chairman Sun Zhentian and General Manager Zhou Jing attended the signing ceremony.
Hyundai Motor and Nanjun Automobile will establish a joint venture of Sichuan Hyundai Motor Manufacturing Co., Ltd. to jointly invest RMB 3 billion according to the ratio of 50%. The project will make full use of the latest commercial vehicle technology and core resource advantages of both parties and build a global competition in the near future. In order to build a world-class commercial vehicle base, Mid- and Long-term plans to manufacture new energy vehicles such as electric vehicles, energy-saving and eco-friendly vehicles, and CNG vehicles that meet China's national environmental protection policies. We will strive to produce and sell 200,000 modern-brand commercial vehicles in 2013. We will produce and sell 400,000 modern commercial vehicles in 2017. In 2020, we will produce and sell 700,000 modern commercial vehicles.
According to Cui Hanying, vice president of Korea’s Hyundai Auto Co., Ltd., it is a strategic focus of Hyundai that it is optimistic about and actively intervenes in the Chinese market. Cui Hanying said: "The combination of the advantages of Hyundai-Nanjun will successfully realize the three-step strategic goal of the joint venture company and create new "modern speed." China is the world's largest and most promising commercial vehicle market, and modern - Kia has no reason to absent."
Sichuan Provincial Party Committee and Provincial Government paid close attention to this cooperation. Provincial Party Secretary and Provincial People’s Congress Chairman Liu Qibiao attended the signing ceremony and met with senior executives such as Xue Rongxing and Cui Hanying. Deputy Governor Huang Xiaoxiang spoke highly of the cooperation between the two parties and believed that this move will definitely promote the better and faster development of the automobile industry in Ziyang Automobile Industry and Sichuan Province as a whole. He said that all levels and departments will work hard to create the best environment, provide optimal services, urge projects to speed up construction, and accelerate the development of enterprises.
Ziyang is an emerging industrial city in Sichuan Province. It is known as the "Western Auto City," and it is dominated by railway locomotives and cargo vehicles. The repairing industry system supported by specialized components such as diesel engines and rubber tires has begun to take shape. By 2015, the automobile industry will become the first billion-dollar industry in Ziyang. At present, Ziyang has been included in the “One Heart and Two Wings†planning and layout of the car industry of the province for key development, and a new pattern of regional economy focusing on the automobile industry is being built.
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