Auto / Truck Manufacturers
Peugeot SA (PSA Peugeot Citroen) and Dongfeng Automobile Co Ltd Joint Venture Opens New Plant in China; Launches Citroen C-Elysee
Peugeot SA (PSA Peugeot Citroen) announced the opening of the third plant operated by Dongfeng Peugeot Citroen Automobiles (DPCA), the Group’s joint venture with Chinese carmaker Dongfeng Automobile Co Ltd, in Wuhan, China. This third plant will lift DPCA’s production capacity from 450,000 to 600,000 vehicles per year as from 2013 and to 750,000 vehicles in 2015. The plant’s inauguration will allow the partners to begin production of the new Citroen C-Elysee, which represents a new step in DPCA’s sales offensive. Wuhan 3 will also produce the Peugeot 301 by the end of 2013. The Citroen C-Elysee will be the second model to reach the market this year, following the Citroen C4L launched in early 2013.
Peugeot SA (PSA Peugeot Citroen) and Dongfeng Automobile Co Ltd Joint Venture Opens New Plant in China; Launches Citroen C-Elysee
Peugeot SA (PSA Peugeot Citroen) announced the opening of the third plant operated by Dongfeng Peugeot Citroen Automobiles (DPCA), the Group’s joint venture with Dongfeng Automobile Co Ltd, in Wuhan, China. This third plant will lift DPCA’s production capacity from 450,000 to 600,000 vehicles per year as from 2013 and to 750,000 vehicles in 2015. The plant’s inauguration will allow the partners to begin production of the new Citroen C-Elysee, which represents a new step in DPCA’s sales offensive. Wuhan 3 will also produce the Peugeot 301 by the end of 2013. The Citroen C-Elysee will be the second model to reach the market this year, following the Citroen C4L launched in early 2013.
Hero Motocorp Ltd Incorporates Wholly Owned Subsidiary In U.S.A.; Picks Up 49.2% Stake In Erik Buell Racing, inc
Hero Motocorp Ltd announced has incorporated a wholly owned subsidiary in U.S.A. by the name of HMCL (NA), Inc. (HMCL (NA)) inter alia for the purposes of investing in Erik Buell Racing, inc. (EBR). HMCL(NA) has agreed to invest USD25 million in EBR for a total stake of 49.2% in the share capital of EBR. The first tranche of USD15 million has been invested by HMCL (NA) on June 28, 2013. The second tranche of USD10 million is proposed to be invested within the next nine months.
Chongqing Dima Industry Co Ltd's Subsidiary Wins Bid for Land
Chongqing Dima Industry Co Ltd announced that its subsidiary, a Chongqing-based real estate company, has won a plot of land measured 63,745 square meters in Ba'nan District, Chongqing City, in an auction, for RMB 404 million. The subsidiary will set up its wholly owned subsidiary for the development of the land.
Honda Motor Co Ltd To Open New India Two Wheeler Plant In June-WSJ
The Wall Street Journal reported that Honda Motor Co Ltd is set to open in June its third factory in the South Asian country that would result in a substantial expansion in production capacity. The factory at Narsapura in the southern state of Karnataka would start with a capacity of 1.2 million vehicles a year, Honda Motorcycle & Scooter India Pvt. Ltd. said in a statement. The 96 acre facility's capacity would be increased to 1.8 million vehicles by the end of the current financial year through March, it said. The new factory would boost Honda's annual production capacity by as much as 64% to 4.6 million vehicles a year. Honda currently has two factories at Manesar in the northern state of Haryana and at Tapukara in the northwestern Rajasthan state.
General Motors Co To Add Four More Plants In China-Reuters
Reuters reported that General Motors Co will add four new plants in the next three years in China to bring its production capacity to five million vehicles a year, the head of GM China said at the Shanghai auto show. The four new factories will bring to 17 the number of assembly plants owned by GM and its partners, and increase production by another 30%.
Hero Motocorp Ltd Incorporates Subsidiary In Netherlands-The Economic Times
The Economic Times reported that Hero Motocorp Ltd has incorporated an off-shore investment subsidiary in the Netherlands — the overseas arms it plans to establish. This new subsidiary is the overseas financial transaction by Hero MotoCorp aimed to catapult international operations into growth driver in the future, according to three informed sources. Hero recently got 100% subsidiary incorporated in the Netherlands to expedite global expansion plans, which includes overseas investments and merger and acquisition opportunities. The Company may announce this soon, said a senior executive from Hero MotoCorp. The size of the potential investment in the overseas subsidiaries was, however, not available.
DAIHATSU MOTOR CO LTD Announces Name of Sub-subsidiary
DAIHATSU MOTOR CO LTD announced its Malaysia-based sub-subsidiary established in March 2013 has been named at PERODUA GLOBAL MANUFACTURING SDN.BHD.
Kandi Technologies Corp's Zhejiang Kandi Vehicles Co., Ltd Announces Establishment Of Kandi Electric Vehicles (Changxing) Co., Ltd
Kandi Technologies Corp announced that the Company's wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (Kandi Vehicles) has established Kandi Electric Vehicles (Changxing) Co., Ltd. (Kandi Changxing) in Changxing (National) Economic and Technological Development Zone to meet the requirements of the previously announced cooperation agreement with Geely Automobile Holdings Ltd. (Geely). The newly established company is a wholly owned subsidiary of Kandi Vehicles that will specialize in EV production, and has been formed with the assets that Kandi Vehicles recently purchase from Zhejiang New Energy Vehicle Systems Co., Ltd. as well as certain molds and properties originally owned by Kandi Vehicles. Kandi Changxing is expected to begin its production at the end of March 2013. Kandi Vehicles plans to contribute Kandi Changxing to the joint venture (JV) company between Kandi Vehicles and Geely and will become a 50% shareholder of the JV company and then proceed to realize the full benefits of the cooperation agreement with Geely.
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Sector Summary
| Energy |  -0.16% |
| Basic Materials | -0.95% |
| Industrials | -0.71% |
| Cyclical Goods & Services | -0.06% |
| Non-Cyclical Goods & Services | -0.34% |
| Financials | -0.39% |
| Healthcare | -0.55% |
| Technology | -0.11% |
| Telecoms | -0.09% |
| Utilities | -0.80% |
| DOW | 14,931.87 | -43.09 |
-0.29% |
| S&P 500 | 1,613.97 | -0.99 |
-0.06% |
| NASDAQ | 3,433.40 | -1.09 |
-0.03% |
| TR US Index | 146.39 | -0.26 |
-0.18% |
+246.24Analyst Research
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