China's Guangzhou to produce own auto brands

Guangzhou Automobile has started developing its own brands of cars and has invested 6.8 billion yuan (US$972.64 million) in research and development and new manufacturing facilities, according to a report on Gasgoo.com. At the 2008 Beijing auto show, Guangzhou displayed three own-brand concept cars: the hybrid AHEV that was created by Italy’s Torino Design as a design study, a four-door coupe and a two-door hardtop convertible sports car based on the four-door coupe. The company plans to develop cars based on the concepts and to introduce all-new mid-class and luxury sedans by 2010. In November 2007, the automotive manufacturer began the construction of a new manufacturing base in Fanyu, near Guangzhou. The project, which will cover an area of 1.5 million square meters, includes an R&D center, an engine plant and a vehicle assembly plant. The company has car manufacturing joint ventures with Honda and Toyota, from which it says it hopes to utilize technical knowledge and human resources. (May 2, 2008)