Cross-straits Venture Produces New Car in E. China

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Last updated at: (Beijing Time) Sunday, March 23, 2003

Cross-straits Venture Produces New Car in E. China

Lancer, a new car model from a joint venture set up by automakers in China's mainland and Taiwan,rolled off the production line recently in east China's Fujian Province.

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Lancer, a new car model from a joint venture set up by automakers in China's mainland and Taiwan,rolled off the production line recently in east China's Fujian Province.

The automotive producer, Southeast (Fujian) Automobile Co., Ltd.was established in 1995 by the Fujian Automobile Industry Group and Taiwan's Yulon Motor Co. The joint venture is the largest car cooperative project across the Taiwan Straits.

Lancer targets China's middle income families, with four types sold at the prices between 120,000 to 180,000 yuan (14,000 to 22,000 US dollars), and about 25,000 Lancer will be put on the marketin 2003, according to Ling Yuzhang, board chairman of the joint company.

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