Taiwan automaker to export cars to new markets

Taipei, July 4, 2008 (CENS) -- Taiwan-based automaker China Motor Corp. (CMC), in partnership with Mitsubishi Motors of Japan, will begin exporting locally assembled cars to new markets such as Central Asia and Africa this year, according to Kenneth Yen, CEO of the Yulon Group and chairman of CMC.

Yen made the statement at CMC shareholder meeting, also stressing that CMC is expected to become one of Mitsubishi's overseas production bases.

Last year, CMC exported around 4,100 locally assembled cars, up 243% from 2006, including over 1,200 Mitsubishi Zinger commercial vans and about 2,0000 Delica commercial vans (under Dodge's brand logo to Mexico).

CMC is scheduled to continue strengthening exports to major markets such as the Philippines, Mexico, the Middle East, and Latin America this year, and in the second half the company's locally assembled Mitsubishi Zinger vans are expected to be exported to Central Asia and Africa through Mitsubishi`s sales channels.

In mainland China, CMC's reinvested affiliate Southeast (Fujian) Motor Co., Ltd. (SEM) sold 60,086 new passenger cars and commercial vehicles last year, up 29.3% from 2006. SEM is scheduled to launch upgrade Lancer 1,500cc sedan and 2,000 Zinger commercial van in September and October, respectively.

In addition, Daimler Fujian Daimler Automotive Ltd (FJDA), a company jointly owned by Fujian Motor Industry Group, CMC, and Daimler AG to locally produce Mercedes-Benz recreational and commercial vans in China, is scheduled to begin production of Mercedes-Benz Viano, Sprint, and Vito etc. FJDA is expected to become Mercedes-Benz's Asia manufacturing and sales center for light vans.

CMC's long-term partner Mitsubishi has successfully achieved restructuring goals and generated pretax earnings of over 80 billion Japanese yen last year. CMC claimed that Mitsubishi's Japanese headquarter has initially agreed to let CMC become one of its assembled-vehicle export centers and it is in talks over issues of exporting locally assembled Mitsubishi Outlander sport utility vehicle (SUV) and Lancer sedan etc. to overseas markets.