Shanghai, November 17 (Gasgoo.com) China's mainland automakers will collaborate further with their counterparts in Taiwan after they meet at the cross-strait automaker convention in Taipei next week, Taipei Times reported today.
Six to seven memorandums of understanding are expected to be signed between automakers of the two sides, with partnerships covering R&D (research and development) and manufacture of automobiles and auto parts, said Liao Ching-chiu, assistant R&D vice president of the Automotive Research & Testing Center, one of the organizers.
"Taiwan's carmakers have the edge in component manufacturing and we are more technologically advanced," Liao told reporters on the sidelines of a press conference yesterday. The two-day meeting will start on Tuesday at the Grand Hyatt Hotel.
At the event, Taiwanese firms will interact with mainland companies and hopefully attract investment, especially with the expected signing of an economic cooperation framework agreement (ECFA) with the mainland next year, Liao said.
Automakers in Taiwan have a combined annual capacity of 700,000 vehicles, but current output is just over 200,000. The idle production facilities could be utilized by forging closer ties with mainland manufacturers, he said.
The convention promises to be a boon for local automakers with 100 top executives from mainland China set to attend. They include those from Geely Auto, Chery Auto and Dongfeng Motor Group, said Taipei Times.
