Youth auto production capacity of 100,000 vehicles approved

The website of the National Development and Reform Commission announced today that the application report for the passenger car project of Zhejiang Jinhua Youth Automotive Manufacturing Co., Ltd. ("Youth Automotive") has been approved. The project is located in the Jinhua Economic Development Zone and is used to produce 1.6L displacement cars and multipurpose vehicles. Passenger car with an annual capacity of 100,000 vehicles.

Pang Young, president of Youth Automotive, revealed at last year’s Guangzhou Auto Show that a total investment of RMB 2 billion was planned for Jinhua’s project. The first phase of the project is planned to start construction in 2010 and it will be completed and put into production in 2012. The long-term goal is to produce 200,000 vehicles a year. 40 billion yuan.

It is understood that the sales volume of young cars in 2010 was only 30,000, compared with BYD who was involved in the automotive industry in halfway (the production and sales exceeded 600,000 units in 2010), and the development speed is not ideal. Zhejiang Pangyang Youth Pte Ltd had engaged in tire business in the early years. In the 1990s, it began to engage in the automotive industry, mainly producing buses and coaches.

The construction site of the project is Jiangdong Industrial Park in Hangzhou Xiaoshan Economic and Technological Development Zone and Jinhua Economic and Technological Development Zone. The project product is a youth car's own-brand sedan and multi-purpose passenger car. The sedan's displacement is 1.6L. The construction scale is annual production of 90,000 sedan cars and 10,000 multi-purpose passenger cars. The matching petrol engine is from Hangzhou Amman. Engine Co., Ltd. production.