Chery to expand its vehicle production capacity in Europe [Yahoo! Finance]
NISSAN MOTOR LTD S/ADR (NSANY)
US:NASDAQ Investor Relations:
nissan-global.com/en/ir
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Source: Yahoo! Finance
The Chinese automaker has already invested in a former Nissan assembly plant in Barcelona, Spain, through a joint venture with local automotive company Ebro. The company aims to produce 200,000 vehicles annually at this facility by 2029. Chery is now understood to be looking for a new partner in Europe, with the aim once again of making use of existing surplus production capacity to expand its manufacturing base in the region. This strategy helps reduce up-front investment costs, by providing the company with readily available vehicle production infrastructure. Chery's chairman, ?Yin Tongyue, told reporters at a recent launch event for the company's Omoda and Jaecoo brands in France that the company “prefers to use existing production capacity instead of ?investing heavily in a new assembly plant. I hope we will have ?news to share with you in the coming months.” Lionel Keogh, Chery's chief commercial officer for France, told reporters on the sidelines of the event that Chery “
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