The dreaded huge wave of cheap Chinese exports – is still not happening. Instead, China’s Changan exports factories.
“We are looking at building automobile assembly plants in foreign markets including Russia and Brazil,” Xu Liuping, board chairman of Shenzhen-listed Changan told China Daily.
Changan (a.k.a. Chana) is owned by China’s largest military industrial group, China South Industries Group Corp. Changan has a long standing joint venture with Ford.
While other carmakers produce little more than noise when it comes to own brands, Changan quietly became China’s largest maker of indigenous brands.
By 2020, Changan wants to produce 4 million automobiles annually under its independent brands. Changan already has six foreign factories in Mexico, Egypt and other countries.