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30-05-2007
China
FAW Group Corp. plans to increase its auto parts
purchasing budget by about 13 percent every
year to more than 162 billion yuan in 2010.
More than 80 percent of the budget will be spent
on passenger vehicles. The actual spending in
each year probably will be bigger than the estimates,
says Ge Lishuang, manager of FAW Group's planning
department for parts.
He says the budgets are for purchasing components
inside China. The amount spent on imported parts
is small and is not included in the budgets.
Ge says more than half of the money will be
used on vehicles produced by joint ventures
with Toyota Motor Corp. and Volkswagen AG. The
rest will be spent on FAW's own brand cars,
such as Hongqi and Xiali.
The budgets contain purchases for new models
that will be introduced in the next several
years. Components bought from subsidiaries or
affiliated companies of FAW and its joint ventures
are included in the budgets.
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