JMC Invests 197 Million Yuan for Engine Project

www.chinaspv.com: JMC announced in Oct. 7th that recently 197 million Yuan was about to be invested for the J15 engine project. It is learned that this project would be into production in the first half of 2015 with annual capacity of 50,000 units.

J15 engine is a gasoline engine introduced from Ford. Due to Chang’an Ford gets the production permit and the relevant dealer resources earlier, JMC would share the mould investment and construction development cost of parts based on J15 Engine Sharing Parts Supply Agreement. Therefore, JMC can purchase national sharing parts for this engine from dealers of Chang’an Ford. For now JMC has already paid 40 million Yuan to Chang’an Ford before this engine project into production. Newly increased cost in the following period would be paid by JMC at that time. JMC said that contract term would last 6 years since the production of JMC J15 engine project. The sharing parts would keep the same factory price as the Chang’an Ford.

JMC plans to invest 50 million Yuan to establish a wholly-owned subsidiary—JMC Automobile Sales Co., Ltd. Li Qing, deputy president of JMC, would be the legal representative and executive director of this company. According to the regulations, the company would be responsible for wholesale and retail of automobile, parts and other service.
 

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