Motor Vehicles and Parts News
- Guangdong News
Date: 9-Mar-2007 Sources: (Shenzhen Daily)
GUANGZHOU Automobile Group Co., the China partner of Honda Motor Co., aims to list on the stock market this year to fund the development of its own-brand vehicles, a domestic newspaper said Thursday.
The automaker, which also operates a manufacturing venture with Toyota Motor Corp., will roll out an own-brand concept car this year, with more models developed in-house scheduled to hit the market before 2010, Zeng Qinghong, the company's general manager, told the Shanghai Securities News. Zeng gave no timing or other details for the listing, but previous domestic media reports said that Guangzhou Auto planned to float shares in Hong Kong to raise as much as US$800 million.
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