Jianghuai automobile denies merger with Chery

Sources said that Anhui Jianghuai Automobile Co., Ltd. would merge with its counterpart Chery Automobile Co., Ltd., but the Chinese private carmaker made a denial at the press conference for the 7th China (Guangzhou) International Automobile Exhibition.

Several months ago, Anhui Province, central China, expressed its intention of promoting the merger between JAC and Chery, which are separately good at the commercial vehicle and passenger car sectors. However, this scheme draws not too much interest from JAC, along with its passenger vehicle production expansion this year.

By the end of last month, JAC had hit the output and sales goal of 100,000 passenger cars two months ahead of schedule, since its overall passenger vehicle development strategy was issued in April 2009. And the figure for the entire 2009 is expected to double to more than 120,000 units.

Next year, it will spare no effort to launch new products and branch out, and total passenger car sales volume is targeted for 300,000, with an over 150% soar year on year.