Shanghai GM Wuling to set up factories in Indonesia
It is learned that Shanghai GM Wuling completed its inspection of the Southeast Asian market, and according to the schedule, Shanghai GM Wuling is then to set up factories in Indonesia, which will produce Wuling models oriented on Southeast Asian market. To SAIC and GM, the share ratio of Indonesian production and investment base will be 50:50.
In fact, SAIC has been longing to seize the Southeast Asian market. As early as 2005, SAIC had showed that choosing to invest in the production of mini cars in Liuzhou was due to its strategic location: only 300 km to the North Bay.
Insiders revealed that SGMW has been conducted research on the Southeast Asian market all the way. Earlier this year SGMW inspected the local market and finalized to build local CKD production base, and will sign agreement at the end of the year.
A recently published data showed that in 2006 SGMW annual sales volume reached 460,000 units, with 36.5% YoY, while in 2007, sales target aims at 520,000 units.
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