Joint venture between Hino and Guangqi approved
Date:2008-09-22
According to recent news from Guangzhou BOFTEC, Hino commercial vehicle project has been approved by the state government. The project will start in Oct of this year and once the project is completed, it will be one of the biggest commercial vehicle production bases in China.
By mid-Aug, the project GAC and Hino Motors had reached a breakthrough. NDRC examined and approved the project to build a new joint venture under the name of GUANGQI HINO MOTORS CO., LTD and the joint venture term is 30 years.
According to the layout, registered capital of the project is 1.5billion Yuan and newly injected capital is 3.1billion Yuan.
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