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Piaggio and Zongshen Industrial Group have
signed a memorandum of understanding to
organise a feasibility plan for a new
equally owned joint venture to manufacture
Ape petrol and diesel three- and four-wheel
vehicles in China. |
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At the
Piaggio Group’s headquarters in Pontedera, the Piaggio
Group and the Zongshen Industrial Group have signed a
memorandum of understanding to organise a feasibility
plan for a new equally owned joint venture to develop
and manufacture Ape petrol and diesel three- and
four-wheel commercial vehicles in Chongqing, People’s
Republic of China. The vehicles will be sold on the
Chinese market.
The MoU was
signed by the chairmen and CEOs of the two companies –
Roberto Colaninno and Zuo Zongshen – during a visit by a
large delegation from the Chongqing city council led by
Mayor Wang Hongju and including the city’s councillors for
foreign affairs, economic growth, science and technology:
The delegation was accompanied by the senior managers of the
Zongshen Group.
Piaggio and
Zongshen (a private group based in Chongqing and one of
China’s largest engine and two-wheel motorised vehicle
constructors) have worked together in China since the
formation of Piaggio Zongshen Foshan Motorcycle Co. Ltd. (PFM)
on 15 April 2004. Headquartered in Foshan in Guangdong
province, PFM is owned by Piaggio and the Zongshen Group
with a 45% share each, and by Foshan City Council (10%). The
company was established as a result of a strategic
industrial and commercial cooperation agreement for the
manufacture in China and marketing in China and the rest of
the world of components, engines, scooters and motorcycles
based on Piaggio patents and technology. In 2007 Piaggio
Zongshen Foshan Motorcycle built more than 209,000 vehicles
(more than 57,000 with Piaggio technology).
In the first
half of 2008, the Piaggio Group’s three- and four-wheel
commercial vehicles business (Ape, Quargo and Porter ranges)
reported worldwide sales of approximately 92,000 vehicles,
for YoY growth of 8.9% on approximately 84,000 vehicles sold
in the first half of 2007.
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