BAIC spends big to build world-class auto power base
Work began Friday to build an automotive power assembly base in China's capital, according to company sources.
The base, located at the Tongzhou district economic development zone, would cost 10 billion yuan (1.47 billion U.S. dollars), Beijing Automotive Industry Holding Corp. (BAIC) announced.
The base would become a world-class assembly base integrating research and development with design and manufacturing, according to BAIC.
The base would eventually produce 400,000 auto engines, 300,000 CVT (continuously variable transmission) gearboxes and 30,000 MT (manual transmission) gearboxes annually in 2015.
To localize the state-of-the-art auto engine and gearbox technologies, BAIC established an auto power assembly company in 2009, bought related technologies and intellectual property rights from SAAB of Sweden and acquired CVT gearbox technologies of the Bosch on the basis of a cooperative project with the German company.
The first-phase project of the power assembly base will cost 3.9 billion yuan and begin operation in June 2011.
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