Subaru denies joint venture with Beijing Automobile Works, Power Diversity Automobile Trade
A person from Subaru of China recently denied the rumor that the company will cooperate with Power Diversity Automobile Trade Co., Ltd and Beijing Automobile Works (BAW) to set up a joint venture in China.
At the 2010 Subaru Safe Driving in China event held on 22 July, Qi Weiqiang, head of planning Dat Subaru, told media that the localization in China for the production of Subaru cars now is in full swing.
Qi said that the headquarters will be in control of the localization project, but details of a timetable, models to be produced and partners have not yet been finalized.
He also indicated that China now is the most important market for the carmaker besides the US and Japan. The progress of the localization will be based on the brand awareness of consumers and the carmaker’s sales volume.
To date, sales of Subaru vehicles in China have have exceeded 100,000 units, with a 2010 sales goal of 50,000 units. It was recently reported that the sales goal for the first half has been reached. Supported by the outstanding sales performance, the localization project is fully expected to get the go ahead.
