Beijing, China, 30 Dec – Chinese automotive company Jianghuai Automobile Co. (JAC) Tuesday loaded its first shipment of 500 vehicles for sale in Brazil, Chinese news agency Xinhua reported.
In August JAC signed an agreement with exclusive Brazilian distributor SHC to export 620,000 ethanol-driven vehicles to Brazil over the next ten years.
Under the terms of the statement cited by Xinhua, the second and third lots, of 1,500 and 2,000 vehicles, respectively, are due to be shipped in January and February, 2011.
JAC, one of China’s top ten car manufacturers, plans to enter the Brazilian market, the world’s fourth largest automotive market, which is still dominated by US and European manufacturers, and She Cairong, the deputy managing director of the company said that is preparing, in the long term, to compete with the big groups in the sector.
The Jianghuai Automobile Co., which is headquartered in Anhui, was founded in 1964 and has been listed on the Shanghai stock exchange since 2001. (macauhub)