|
26-11-2007
FAW
Group Corporation announced Friday the opening of a joint venture automobile production
plant in Mexico. FAW will be the first Chinese automaker entering into the fast
growing Mexican automobile market. The new factory, located in Mexico's western
Michoacan state and co-invested US $150 million by FAW Group and Grupo Elektra
SAB, will begin its operation in 2010 with an annual capacity of 100,000 cars. A
groundbreaking ceremony was held on site on Nov. 23. Attendees to the ceremony
included Mexico president Felipe Calderon, Grupo Salinas president Ricardo B.
Salinas, FAW Group Corporation president Zhu Yanfeng, Tianjin FAW Xiali Automobile
Division general manager Wang Gang and other honorable guests. After
the production facility put into operation the JV will produce Tianjin FAW Xiali
Automobile Division's economical cars named Xiali and Vita, which will be sold
to the Mexican market. Grupo
Elektra is Latin America's leading specialty retailer, consumer finance and banking
services company. The Group operates more than 1,700 points of sale in Mexico,
Guatemala, Honduras, Peru, Panama, El Salvador and Argentina. Grupo Elektra also
sells and markets its consumer finance, banking and financial products and services
through Banco Azteca branches located in Mexico, Panama, Guatemala and Honduras.
Grupo Elektra is a member company of Grupo Salinas, a group of dynamic, fast-growing,
and technologically advanced companies focused on creating shareholder value,
building the middle class of the countries in which it operates, and improving
society through excellence.
|
