A new automotive parts joint venture between electronics firm Amoi and the Nanjing Automobile Group will be launched next month, Access Asia reported.
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The Nanjing Auto Body Company Ltd, and electronics firm Amoi, based in East China’s Fujian Province and listed in Shanghai, will invest $US21.1 million in cash to control 50% of the venture each.
The JV will be located in Nanjing, the capital of Jiangsu Province, and will develop and produce car bodies for the Junda-brand SUV. Nanjing Auto Group claims to have already sold 800 Junda SUVs since the model was launched at the end of last year.
