Jianghuai Auto (600418) today announced the company had gained approval of the State Development and Reform Commission. As company accords with the basic principles of China auto industry policy and the basic conditions for production of various cars, SDRC approved the company to increase car varieties on the basis of the existing production facilities. This marks on the basis of commercial vehicles, Jianghuai Automobile successfully cut into the passenger cars field.
The Anhui Province-based company said the first models will be mid-to-high class sedan powered by a 2.0- or 2.4-liter engine it developed itself and had already developed 10 passenger car models and would launch mid-to-high sedans ranging from segment A to C this year. Anhui Jianghuai Auto project had been listed in the "11th Five-Year Plan" period as key auto industry projects, which is likely to become another important growth point after Chery Automobile in Anhui Province.
Currently, the Jianghuai Auto has formed complete product structure including large and medium commercial vehicles, light passenger cars, passenger vehicles chassis and whole series of trucks. Jianghuai commercial vehicle Refine, which was put into production in 2003, reached No. 1 sales just within two years; in the commercial vehicle market, Jianghuai have maintained commercial truck chassis and commercial vehicle first in industry; Jianghuai domestic light truck maintained sales No.2, export on top; in 2005 Jianghuai Automobile become the most rapid profits increasing enterprise in industry.
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