The joint venture company formed by the Beijing Automotive Group and a subsidiary of the Russian AMS Automotive Group was formally established on July 19.
It is reported that as early as 2009, Beijing Automobile Manufacturing Factory signed a preliminary agreement with Russia's AMS Corporation to establish a joint venture. The newly formed joint venture company has a total investment of approximately US$176 million, BAW Beijing Auto Manufacturing Co., Ltd. (BAW), Beijing Automotive International Trade Co., Ltd. and BMC, a wholly-owned subsidiary of Russia’s AMS Automotive Group, each holding 50% of the shares. The joint venture company is located in Ulyanovsk, Russia, and has a planned annual production capacity of 60,000 commercial vehicles. From 2012 to 2015, the annual output of the joint venture will reach 20,000 vehicles, all of which are parts and assemblies. The main products of the joint venture company are all tonnage loaded trucks, which will all be sold under the BAW brand in the Russian local market.
Beijing Automotive Group Co., Ltd. ("Beiqi Group") is one of China's five major automotive groups. It is mainly engaged in vehicle manufacturing, parts and components manufacturing, automotive service trade, research and development, education, investment and financing, and is the development of the Beijing automotive industry. Planning Center, Capital Operation Center, Product Development Center, and Talent Center. During the “Twelfth Five-Year Plan†period, BAIC completed its industrial layout by implementing an overseas strategy. The Beijing Group formulated a strategy to vigorously develop the international market based on the domestic market, with emphasis on the commercial vehicle products of Beiqi Foton with advantages. .
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