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Qingling teams up Isuzu in engine production
Last Updated(Beijing Time):2005-09-13 10:28

Qingling Motors Co. said Monday it has agreed to team up with Isuzu Motors on a joint venture to make engines, with total investment of more than 1.50 billion yuan (US$185.4 million).

"The Company is still discussing with Isuzu as to other major terms in relation to the establishment of the JV Company," Qingling Motors said in a statement. The joint venture, which will has a registered capital of 680 million yuan, will produce engines and parts with targeted production and sales volume of 175,000 engines per year. Isuzu is a substantial shareholder of Qingling Motors, holding 40.08 percent of its issued H shares listed in Hong Kong.

Source:Shenzhen Daily 
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