Iron Lady of Taiwan's motor industry dies aged 95

"Iron Lady''  Vivian Shun-wen Wu (吳舜文), a legend in Taiwan's motor industry and one of the island's wealthiest women, has died of heart and lung failure at the age of 95.

The former chairwoman of the Yulon Group died Saturday afternoon at the Veterans General Hospital in Taipei.

Wu, who was born in Jiangsu, moved to Taiwan with her husband in 1948. They founded Tai Yuen Textile, which under her management became Taiwan's leading textile company. Her husband Yen Ching-ling in 1953 founded Yue Loong, which began assembling cars under Nissan's license in the 1960s.

There were suspicions after he died in 1981 the firm might fold. But Wu acquired the nickname "Iron Lady'' for her tenacity after the carmaker in 1986 successfully rolled out Taiwan's first locally designed sedan.

The company, which changed its logo and name to Yulon in 1992, continued to thrive and expand.

A venture with Nissan, Yulon Nissan Motor Co promotes Nissan-branded cars in Taiwan and other Asian markets.

Yulon has also invested in an automaker in the mainland and set up a joint venture with the US' General Motors Corp to sell and assemble GM models in Taiwan.

Kenneth Yen took over as chairman of the company last year from his mother and the business spread to industries including textiles, electronics and construction.