China to Export Top-grade Automobile Engines to Canada

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Last updated at: (Beijing Time) Monday, November 04, 2002

China to Export Top-grade Automobile Engines to Canada

A Canadian auto company and its Chinese counterpart have signed an agreement for the export of high-grade auto engines to Canada.

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A Canadian auto company and its Chinese counterpart have signed an agreement for the export of high-grade auto engines to Canada.

The agreement, which details the export of a large volume of engines, is the first of its kind to be signed by a Chinese company.

According to the deal between Canadian auto company CAMI, a subsidiary of US auto giant GM, and Shanghai GM Co., beginning in November 2003, Shanghai GM will supply CAMI V6, 3.4 liter LNJ engines for a new model of Chevrolet which will be sold in 2004.

While revealing no further details about the deal, Phil Murtaugh, chairman and CEO of Shanghai GM Co., said the agreement represents a milestone in cooperation.

Murtaugh said GM's global strategic partnership strategy enables the company to take advantage of global resources and givefull play to the competitive edge of Shanghai GM.

Shanghai GM is capable of producing 180,000 units of V6 enginesand 75,000 L4 engines annually.

Chen Hong, general manager of Shanghai GM, said the export of automobiles and major auto components is a positive strategy for the company in its efforts to counter the increasingly fierce competition in China's auto market.

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