Shanghai, December 17 (Gasgoo.com) Taiwan's automaker Yulon Group has recently unveiled the Luxgen7 CEO luxury multi-purpose van (MPV), the most luxurious model so far in the private-branded Luxgen lineup, the Taiwan Economic News reported today.
Mainland China's auto industry regulators have approved Yulon's application to set up Dongfeng Yulon Motor Co., a joint venture between Yulon Motor and the mainland's third-largest automaker Dongfeng Motor, Kenneth Yen, chairman of Yulon, said at the press conference to debut the new MPV.
Yulon plans to invest another NT$20 billion to NT$30 billion (about US$618.4 million to US$923.1 million) next year to boost market share for Luxgen vehicles as quickly as possible on both the island and the mainland.
Industry insiders revealed that Yen bought a super-luxury Maybach of Mercedes-Benz's top-end line few years ago as inspiration, for Yulon engineers to "transplant" some of its luxury equipment onto the Luxgen7 CEO, which targets mainly business-executives.
The monthly Luxgen output at Yulon's Sanyi plant in central Taiwan has risen to over 600 from 300. With the newly introduced Luxgen7 MPV, CEO and SUV being major sales drivers in 2010, Yulon will also launch a sub-compact in 2011.
Yulon has also teamed up with the mainland's Geely Auto to produce and sell electric cars in Taiwan. Geely's Panda compact sedan parts will be assembled on the island into an electric car under Yulon's Tobe brand.
