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SAIC Iveco Commercial Vehicle Investment Company launching

Ally From www.gasgoo.com| April 16 , 2007

Co-established by Iveco, SAIC and Chongqing Heavy Vehicle Group with a total investment of 3 billion Yuan, SAIC Iveco Commercial Vehicle Investment Company Ltd has been officially approved by Development and Reform Commission of Chongqing City and the company will start operation soon.

SAIC Iveco Commercial Vehicle Investment Company launching

Located at the North part of Chongqing city, the joint company is expected to reach an annual production capacity of 40,000 units after launch.

Informants say the company will bring in Iveco’s advanced technologies and operations including the cab, frame, painting operations from Iveco, and assemble vehicles and products in order to enhance their competitiveness on the local market, as well as the development of vehicles featuring an optimal integration of Chinese and European components and technologies. Annual sales and profit margins are expected to reach 10.5 billion Yuan 600 million Yuan, respectively.

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