Two mainland China-based auto production subsidiaries of Taiwan’s Yulon Group are scheduled to invest over NT$10 billion (US$287.36 million at US$1:NT$34.8) this year to expand production there.
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Yulon is the largest auto manufacturing conglomerate in Taiwan. It has two auto production arms on the island, including Yulon Motor Co. (partner of Nissan of Japan) and China Motor Corp. (partner of Mitsubishi of Japan).
Yulon Motor currently has a 40% stake in Aeolus Motor Corp. of mainland China, a car production joint venture with Dongfeng Automobile, the third-largest auto manufacturing conglomerate in the mainland. Aeolus currently produces car models developed by Nissan and redesigned by Yulon’s technical center in Taiwan.
China Motor currently has a 50% stake in South East Motor Corp. of mainland China, a venture between the Taiwan company and a Fujian province-run automobile maker there.
Aeolus and South East are expected to sell a total of 160,000 cars and commercial vehicles this year, generating a combined annual profit of about NT$7.8 billion (US$224.14 million) for the Yulon Group.
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By GlobalData
China Motor said South East is scheduled to introduce its first sedan model, the Lancer, in March this year. The mainland automaker expects to sell over 100,000 automobiles this year, up significantly from about 48,000 units last year.
