China intends to produce cars in Slovakia

China intends to produce cars in Slovakia

It seems that after the Korean, French and German car makers in Slovakia will open its plant also one of the largest automobile corporations in China. At Shanghai World Exhibition EXPO 2010 its interest in establishing a joint Slovak-Chinese production announced the representatives of the corporation JAC Motors. According to a number of Slovak media, JAC Motors has already engaged in negotiations for terms and conditions of the project with the Slovak side.

Today, Slovakia is one of the leading European countries on GDP growth. Forecast GDP growth for Slovakia in this year is 2.7%. In many ways, such growth of industrial production on the European background is ensured by a highly developed car industry. China, which considers Europe among key markets to promote their cars, naturally seeks to affirm the presence in the country, which has a reputation of the leader of the Eastern European car industry.

Jianghuai Automobile Co - the official name of the Chinese car giant - is one of the fastest growing Chinese companies. Today dealerships of JAC Motors can be found throughout the world. In late 2009 the company signed a multimillion-dollar contract to supply its cars in Brazil. These facts make to talk about JAC Motors as a major new player in the global car market.

Answering journalists' questions, the regional director of JAC Motors David Wang said the company is not afraid of competition from big players such as Peugeot, Kia and Volkswagen, whose factories are already operating in Slovakia. In turn, Mr. Wang declined to name the exact amount of investment, saying only that the company plans to manufacture in Slovakia minivans and motor cars.

Date: 08/05/2010