Shanghai, September 3 (Gasgoo.com) With the inflation, rising oil price and stock market downturn, the post-Olympics auto sales in China may slip into a short-period stagflation, but the auto market is still promising for a long time, with the fuel-saving and low-emission high-performance vehicles likely to keep growing by 20% to 30% annually, according to Shanghai Securities, citing Tan Yuesheng, president of BorgWarner China.
BorgWarner, the recognized leader in advanced powertrain components and drive system technique, has seen a big market potential from China’s current auto market trend.
Sources said BorgWarner is stepping up investment in China. The auto-parts giant will launch its China Technology Center (CTC) in October, which is located at Shanghai and scheduled to start operation by the end of 2009. The CTC, covering 43,000 square meters with $120 million investment, will become BorgWarner’s largest technology center around the globe.
As oil price continues rising and city residents become more aware of environment protection, consumers tend to care more about the vehicle energy consumption and the emission standard, an unnamed Ford Shanghai dealer said.
In such a situation, BorgWarner makes its Chinese strategy clear by introducing to Shanghai the world largest CTC which focuses on eco-friendly auto parts.
A report said China's auto industry regulator has pushed 10 domestic auto companies to jointly build a venture with BorgWarner for introducing DCT, with BorgWarner taking 66% stock and 34% stock going to the 10 Chinese automakers led by SAIC.
Gasgoo: auto parts source
