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News from Chongqing Changan Automobile Co., Ltd says it takes over major auto assets from Chinese aircraft maker Aviation Industry Corp of China (AVIC for short). This is the important pace of speeding up auto industry reshuffle. According to the agreement, Chongqing Changan Automobile Co., Ltd will take over minivan maker Harbin Hafei Automobile Industry Group, Suzuki Motor Corporation and Mitsubishi Motors Corporation. AVIC will get a 23 percent share stake in new Changan Auto Group. The new production capacity of Changan Group will reach 2 million units.
Changan Mini Bus
Changan, is one of the most renowned automakers in China. Its headquarters is located in Chongqing. Chana has a long history. It was founded in Shanghai in 1862 by Hongzhang Li, a famous character in the Westernization Movement of the Qing dynasty. It was called Shanghai Foreign Gun Bureau at that time and soon developed to be the first industrial group in modern China. Chana is a fast-growing group. It has three production bases, one each in the southwest, east and north of China. Chana is a promising group. It has 28,000 working staff including a thousand scientific and technical personnel and has also set up auto engineering research institutes and branch institutes in Italy, Germany, Shanghai and Chongqing of China. Production and sales of ChangAn autos rank in the top 20 worldwide and is No.1 in China.