Following Lifan Yin Mingshan and Luan Zhang Xinghai, Wang Dong, a low-key motorcycle owner in Chongqing, has also obtained automobile production qualifications in Vietnam. Yesterday, Chongqing Dongben Industrial Co., Ltd. stated that they invested 20 million U.S. dollars in Vietnam and established an automobile production plant. The new car will be listed after the Spring Festival, priced at around 40,000 yuan, based in Vietnam and radiating to ASEAN.
Created a three-wheeled vehicle licence
“Actually, we have been in Vietnam for nearly 10 years and have been doing motorcycle parts business since then.†Yesterday afternoon, Minister of Foreign Affairs of Chongqing’s Ministry of Foreign Trade said that Dongben was with Chongqing Zhicheng Machinery and Silver Steel Motors in 2000. Vietnam established a joint venture with Vietnam Elite Co., Ltd. and its benefits are very good. “The free trade zone was launched. Our early layout just caught up with the big environment.†Minister Gong said that in the past ASEAN countries had an average vehicle import tariff of up to 80%, and spare parts were also 20%. They are gradually being liberalized.
Established in 1996, Chongqing East Ben is located in Nan'an Tea Garden in Chongqing and occupies an area of ​​only 230 acres. It specializes in the production of three-wheeled motorcycles, agricultural tractors and karting. It is only second-line motorcycle enterprises in Chongqing.
In 2006, Dongben invested 5 million U.S. dollars to establish a three-wheeled motorcycle manufacturing plant in Vietnam. Minister Gong introduced that soon Vietnam banned the licensing of three-wheeled motorcycles. “The factory building has been built, and the investment of 5 million US dollars can't be played!†Minister Gong said that Dongfang had several meetings to discuss how to revitalize the already-built factory, so the word “build cars†began to be active in Dongben. Various conferences. “We reflected on the issue. Vietnamese Prime Minister Nguyen Tan Dung also gave written instructions. Leaders of the various departments of the Central Government of Vietnam visited the factory and received praise,†said Minister Gong. “We then proposed a feasibility report on the production of automobiles and soon we were approved to invest in the establishment of Vietnam Dongben Micro Light Truck Manufacturing Co., Ltd., which mainly produces light four-wheeled trucks.†Minister Gong said that East Ben successfully entered the automobile manufacturing industry from motorcycles.
New car listing price after the Spring Festival 40,000
Dongben’s vehicles produced in Vietnam will be listed after the Spring Festival. After obtaining the Vietnam Government’s “Enrollment Cardâ€, Dongben added another 15 million US dollars for plant expansion and equipment reconstruction. “Vietnam's investment in East Benben has reached 20 million U.S. dollars, and we are 100% controlled.†Minister Gong said that the factory has been transformed and has a welding, painting and assembly shop with an annual production capacity of 30,000 vehicles.
“For example, the stamping link needs to be completed in Chongqing, and then complete the spare parts output and enter Vietnam from the Pingxiang Pass in Guangxi. The 10 first batches of production have all been off the assembly line and sent to Vietnam's Ministry of Communications for inspection. The response is good.†said Minister Gong. At present, they have prepared 100 sets of spare parts and will pack them out of Hong Kong soon. Minister Gong said that although automobiles and motorcycles cannot be exempted from tariffs as sensitive goods, according to the agreement, the tax rate is expected to decline slightly after a certain period of time.
It is reported that Dongben light goods vehicles will be listed in Vietnam after the Spring Festival and are expected to sell for 40,000 yuan. The automobile was first sold in Vietnam and then exported to other ASEAN countries. "If the market reacts well, we will also invest in additional capacity to expand the capacity of the Vietnam automobile plant," said Minister Gong.
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