Zhongda Motors Inc. Incorporates Sichuan Passenger Cars into Its Capsules

In this paper, Xu Liankuan, president of Zhongda Group, and Wei Guangyou, chairman of Sichuan Bus Manufacturing Co., Ltd., recently signed a joint venture and cooperation agreement in Yancheng, Jiangsu. This is another acquisition by Zhongda Group following the acquisition of the Nanjing Jinling double-decker bus plant. So far, the Zonda Group has acquired a total of five bus companies. According to reports, Sichuan Bus Manufacturing Co., Ltd. has more than 30 years of history of passenger car manufacturing, and has a registered trademark of “Sui” brand, which has a high reputation in China. The company is located in the Chengdu Airport Development Zone and has the capacity to produce 3,000 passenger cars of various types annually. It is a company integrating the development, manufacture, sales and service of passenger cars. It is reported that the two parties agreed to form a joint venture company with independent legal personality on the basis of the former Sichuan Provincial Bus Manufacturing Co., Ltd.—Sichuan Zhongda Coach Manufacturing Co., Ltd. Zhongda Group holds 70.19% of shares and Sichuan Bus Manufacturing Co., Ltd. holds 29.81%. The newly formed joint venture company will fully integrate the production and operation of the original company bus and market resources, and enlarge and strengthen the road tourist bus market in Southwest China.

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