BAIC South Africa Factory to Start Operation at the Year End
2017-04-07
In recent years, BAIC has been making an all-out effort to speed up its internationalization As a strategic platform for its globalization, BAIC International Development Co , Ltd (hereafter referred to as BAIC International) has set up production bases in South Africa, Mexico, Iran and Ruili in Yunnan province to meet the growing demand in the international market
In recent years, BAIC has been making an all-out effort to speed up its internationalization. As a strategic platform for its globalization, BAIC International Development Co., Ltd. (hereafter referred to as BAIC International) has set up production bases in South Africa, Mexico, Iran and Ruili in Yunnan province to meet the growing demand in the international market. According to Li Xiaofan, vice president of BAIC International, the company’s production base in South Africa will finish its construction at the end of this year. With a total investment of 800 million USD, the production base is jointly built by BAIC International and IDC. After its completion, it will become the largest automotive manufacturing base in Africa, able to roll out 10,000 units vehicles (including passenger vehicles, SUVs, and light-duty commercial vehicles) each year.
In Mexico, BAIC International has already set up three sales outlets and eight service stations. By the end of this year, the number of its service stations is expected to reach 25.
BAIC International was established in June, 2013. So far, the company has sold 57,000 units vehicles and set up 154 sales outlets in 47 countries in the world. In addition, it boasts over 100 service stations abroad. In 2016, the company’s export volume jumped to the eighth place in China. This year, BAIC International expects its export volume to reach 26,000 units and its business revenue to stand at two billion RMB.
In 2016, BAIC sold 2.8 million units vehicles, up by 15% year on year. Its business revenue reached 400 billion RMB, up by 17.9% year on year. Its joint venture, Beijing Benz registered a sales revenue of 90.48 billion RMB, up by 27.7% year on year. Beijing Hyundai, another joint venture, also realized a sales revenue of over 100 billion RMB and a profit over 10 billion RMB.
After acquiring 35% shares of Fujian Benz, BAIC has further solidified its position in the high-end vehicle market.
