Chery, Fuji to build Subarus in China, report says
Chery Automobile Co. has signed an agreement with Fuji Heavy Industries Ltd. to build Subaru vehicles in the northeast China port city of Dalian, according to 21st Century Business Herald, a business daily in China.
The partners' investment will total 30 billion yen (2.4 billion yuan). The plant initially will have an annual production capacity of 50,000 vehicles, rising to 150,000 units after the plant is fully built, the newspaper reported.
The two automakers are working out details and have not indicated when they will launch the joint venture.
Subaru is a division of Fuji Heavy Industries. Subaru has no Chinese assembly plants. In the first four months of this year, Subaru sold 24,267 vehicles in China, up 36 percent year-on-year, according to J.D. Power and Associates Inc.
