Isuzu, Jiangling Motors Form China Truck, Engine Ventures
Isuzu Motors Ltd. (7202) and Jiangling Motors Corp. (200550) will form ventures to produce light commercial vehicles and engines in China’s Jiangxi province as demand for pickup trucks expand in the world’s biggest automobile market.
Isuzu expects to obtain government approvals in March 2013, and begin production at the venture in early 2014, according to a statement on its website today. The Tokyo-based truckmaker expects to build and sell about 100,000 vehicles a year.
In the full-year ending March 2013, Isuzu is targeting to boost global deliveries of light commercial vehicles by 32 percent to 393,400 units, while it expects worldwide shipments of commercial vehicles to increase by 11 percent.
Isuzu rose 0.7 percent to 417 yen as of 1:38 p.m. in Tokyo trading. The stock has gained 17 percent this year.
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