27th September 2009, www.nation.lk, By Azhar Razak
Two of China’s leading automobile manufacturing companies are currently negotiating with the Board of Investment in Sri Lanka (BOI) to setup vehicle manufacturing plants in Sri Lanka. China’s largest domestic vehicle manufacturer, Shanghai Automotive Industry Corporation (SAIC) Motor and FAW Car Company Limited, a state-owned enterprise and which is also the China’s first automobile manufacturer are seeking permission from the BOI to export vehicles from Sri Lanka to Latin American countries and to some African countries, Dr. Saman Kelegama, Executive Director of the Institute of Studies told a business forum.
FAW Car Company Limited, a subsidiary of First Automotive Group Corporation is a maker of light, medium, and heavy-duty trucks, automobiles, municipal and touring buses, custom bus chassis, mini-vehicles and auto parts. It was established and listed on the Shenzhen Stock Exchange in 1997. SAIC Motors, the other Chinese automaker ranks the third among the ‘Big Five’ vehicle manufacturing companies in China.