China National Machinery Import and Export Corp. (CVC) is mulling an assembly plant in Sri Lanka in partnership with Micro Cars.
CVC Vice President Wu Yi last week called on the Ambassador of Sri Lanka to China Dr. Palitha Kohona at the Sri Lanka Embassy in China to explore the possibility of establishing a vehicle plant in Sri Lanka.
“They plan to produce and promote the MG, Chery, and Proton brands in Sri Lanka,” a statement from the Sri Lanka Embassy in China said.
CVC is a wholly-owned subsidiary of China National Machinery Import and Export Corp (CMC). The CVC is an enterprise specialising in the distribution of automobiles, auto parts and components and other similar products.
“The CVC has already established an effective relationship with Micro Cars of Sri Lanka. CVC Vice President Wu Yi said that the CVC was in the process of discussing an expanded joint venture with Micro Cars,” the statement added.
Ambassador Kohona stated that the Government of Sri Lanka welcomed investment in the automobile sector. He encouraged the CVC to present a detailed proposal. The Ambassador elaborated on the domestic market for vehicles and the wider market that is available given Sri Lanka’s location in a prosperous region of the world. Further, he assured the fullest support of the Sri Lankan Embassy.
Vice President Wu was accompanied by CMC General Manager Yin Qing, CVC Deputy General Managers Gu Chaogang and Zhu Xiaomei, and CVC Commercial Manager Yan Wenshuo.
(FT)