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China Air-Conditioner Manufacturer Announces Auto-Making Plans
Feb 26, 2004
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Chinese air-conditioner manufacturer, the Aux Group (Wuhan, China), is planning to invest 8 billion yuan (U.S. $964 million) in a car-manufacturing plant, in a bid to gain a share of the Chinese car market, a senior official said from the company said.

The company is aiming for a production capacity of 450,000 automobiles within the next 5 years. Aux plans to introduce a sport-utility vehicle (SUV) model, a multi-functional van, and a sedan this year, with prices roughly between 120,000 to 150,000 yuan ($15,000 to $18,000), company officials said. (Asia Pulse)

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