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Australian Motoring Body to Invest 54M Yuan
Nrma, Australia's largest motoring association, plans to invest 54 million yuan (about HK$49.1 million) in a mainland organization to offer comprehensive motoring services.
The new association to be called Enbao CAA will be a joint venture between mainland firm Continental Automobile Association (CAA) and NRMA, the Beijing Daily reported on Tuesday. NRMA plans an initial investment of 27 million yuan in the first phase of the venture.
Enbao CAA aims to provide Beijing motorists with world class motoring services and roadside assistance. ''Internationally, motoring clubs provide a range of membership privileges and we want to share these benefits with people in Beijing,'' Enbao CAA's general manager, Gao Yang said.
CAA was established in 1995 and has become China's major motoring club, offering breakdown assistance and other services to over 100,000 members in eight cities.
''As China's first motoring club, CAA is proud to be extending its services to members using the expertise of Australia's largest motoring Club, NRMA,'' Mr Gao said.
Private car ownership is showing a rapid increase following recent price cuts by mainland vehicle manufacturers. (SCMP)
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