29-03-2007 Currently,
Zonda Group CEO Mr. Xu Liankuan and Vietnam Motor Chairman Mr. Ruan Wenke formally
signed a Joint venture agreement named Vietnam Zonda Automotive Co. Ltd in Nanning,
the capital of Guangxi Province. The total investment is US 60 million dollars
and the annual production capacity in the early stage is 5000 units of buses and
bus chassises. The formal commencement of this project means that, after two years
of feasible analysis and market research which started from 2005, both of two
Parties finally came to the agreement through negotiations in-depth. It is the
symbol that Zonda's international strategy moves forward with a big step. 
Stipulated
in the agreement, based on complying with the Vietnam foreign investment regulation
and other related laws, the Joint Venture will be established in Hanoi with the
name of Vietnam Zonda Automotive Co. Ltd, shortened form as Vietnam Zonda, and
VZM in English. The main business scope of the newly established Vietnam Zonda
Automotive comprises production of whole bus, accessory parts and chassis. Zonda
bus, as one of the investors, will be mainly responsible for exporting to Vietnam
Zonda Company technique, manufacturing equipment, CKD accessories, personnel training
and capital investment. The establishment of Vietnam Zonda Automotive Co., Ltd.
will exert significant influence on the developing of Vietnamese bus industry,
which is comparatively week. Meanwhile, it will open one smooth channel of facilitating
Zonda bus' exportation to East Asian countries and expediting the globalizing
pace of Zonda branded. Vietnam
auto market, being newly-developed, has not yet been fully opened. With the rapid
construction of China- ASEAN Free Trade Zone, Vietnam will gradually open its
auto market from its previous limit policy. At the same time, in order to accelerate
developing its domestic auto industry, Vietnam government will vigorously encourage
foreign investment to the field of auto accessories' manufacturing. They are expecting,
by using the foreign capital and technique, to encourage cooperation and joint
venture with its domestic companies, even the reformation progress of state-owned
auto manufacturers. All of these offer a great opportunity for Chinese enterprises,
including Zonda bus to explore the new Vietnam auto market. In
conclusion, zonda bus will seize the opportunities, on the basis of fulfilling
preparation work in the early stage and strengthening the prospective research,
and successfully establish the Vietnam Zonda Bus Co. ltd together with Vietnam
Motors General Company in final. In terms of the words from Zonda's certain department
Principal, zonda will launch the bus with high price-performance ratio to Vietnam
auto Market, and consummate its after-sales service step by step, so as to take
up the market share in Vietnam and southeast countries by really exerting good
quality and service.
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