The Wuhu, China-based carmaker, together with Ukrine Kitpred Automotive Industry Corp. Ltd., will purchase a car factory of SOK, a Russia-based carmaker. The factory once manufactured products for Kia Motors, with annual production capacity of 300,000 cars.
The Chinese carmaker, which exported 37,100 cars or one-third of its total car sales in 2007, has met difficulties in Russia. The country announced in February that it would raise the certification standard for incomers doing car manufacturing. Foreign companies, which pass the new certification standard, could get customs benefits from the country. (Tire Review/Akron)
