Shanghai, August 27 (Gasgoo.com) Guangzhou Auto, a Chinese partner of Toyota, will develop its own brand by using the Japanese carmaker's Camry platform. The design of the Guangzhou Auto brand has been commissioned to an Italian firm, reported 21st Century Business Herald today.
This all-new model for Guangzhou Auto to expand its mid- to high-end auto market share will have its concept car finished in mid-2009. The company has chosen to use the Toyota's Camry platform because this would save much time and cost, and more importantly the choice is decided by the remarkable sales performance of Toyota Camry in China's auto market.
As a Chinese partner of Japan's carmakers Toyota and Honda, Guangzhou Auto has planned for many years to develop its proprietary models like Toyota Camry and Honda Accord, both produced in their joint ventures with the Chinese carmaker. And the company hopes to build the own-brand cars on its independent production lines and platforms.
Guangzhou Auto invested 6.8 billion yuan ($994 million) at the end of last year in the development of its own-brand models and construction of a new facility. The project, to be completed by 2010, will have an annual capacity of 100,000 vehicles and 100,000 engines, and its second phase will double the output.
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