Guangzhou Automobile Group Co (GAC, 廣州汽車集團), a Chinese partner of Toyota Motor Corp and Honda Motor Co, was scheduled to introduce its own-brand Trumpchi car yesterday as the pace of sales growth slows for its Accord and Camry sedans.
Trumpchi is part of the automaker’s efforts “to build a first class brand,” vice chairman Zeng Qinghong (曾慶洪) said yesterday at an auto show in Guangzhou.
Guangzhou Auto, SAIC Motor Corp (上海汽車) and other Chinese automakers are speeding up development of their own models as they move from being low-cost assemblers of models developed by foreign partners. Chinese-brand passenger vehicles accounted for 45 percent of sales in the first 11 months of this year, compared with 44 percent a year earlier, according to the China Association of Automobile Manufacturers.
A hybrid version of Trumpchi will be available next year and an electric model in 2013, according to the company.
Toyota and Honda have lost market share in China as European and US rivals are able to buy components at lower prices by encouraging competition among suppliers, Zeng said. Japanese automakers prefer the stability of working with parts makers to which they have close ties, even if it means prices are higher, he said. Components make up 70 percent to 80 percent of costs, he said.
Toyota, the world’s biggest automaker, increased Camry sales 4 percent to 147,708 vehicles during the first 11 months of this year, according to researcher J.D. Power & Associates. Honda Accord sales fell 0.2 percent to 157,855 units, it said,
Guangzhou Auto, which made its trading debut in Hong Kong in August, may consider listing in China next year, Zeng said, without giving more details.
Shares in Guangzhou fell 1.7 percent to HK$10.31 as of 12:29pm in Hong Kong trading. The stock has risen 13 percent since the listing.
There may be more opportunities for acquisitions and cooperation with other automakers over the next five years, Zeng said.
Sales may rise 15 percent to 730,000 units this year, he said.
The Chinese automaker has a target of 3 million vehicles and 400 billion yuan (US$60 billion) in sales by 2015, Chairman Zhang Fangyou (張房有) said at the same event in Guangzhou.
With this year’s Semicon Taiwan trade show set to kick off on Wednesday, market attention has turned to the mass production of advanced packaging technologies and capacity expansion in Taiwan and the US. With traditional scaling reaching physical limits, heterogeneous integration and packaging technologies have emerged as key solutions. Surging demand for artificial intelligence (AI), high-performance computing (HPC) and high-bandwidth memory (HBM) chips has put technologies such as chip-on-wafer-on-substrate (CoWoS), integrated fan-out (InFO), system on integrated chips (SoIC), 3D IC and fan-out panel-level packaging (FOPLP) at the center of semiconductor innovation, making them a major focus at this year’s trade show, according
DEBUT: The trade show is to feature 17 national pavilions, a new high for the event, including from Canada, Costa Rica, Lithuania, Sweden and Vietnam for the first time The Semicon Taiwan trade show, which opens on Wednesday, is expected to see a new high in the number of exhibitors and visitors from around the world, said its organizer, SEMI, which has described the annual event as the “Olympics of the semiconductor industry.” SEMI, which represents companies in the electronics manufacturing and design supply chain, and touts the annual exhibition as the most influential semiconductor trade show in the world, said more than 1,200 enterprises from 56 countries are to showcase their innovations across more than 4,100 booths, and that the event could attract 100,000 visitors. This year’s event features 17
Germany is to establish its first-ever national pavilion at Semicon Taiwan, which starts tomorrow in Taipei, as the country looks to raise its profile and deepen semiconductor ties with Taiwan as global chip demand accelerates. Martin Mayer, a semiconductor investment expert at Germany Trade & Invest (GTAI), Germany’s international economic promotion agency, said before leaving for Taiwan that the nation is a crucial partner in developing Germany’s semiconductor ecosystem. Germany’s debut at the international semiconductor exhibition in Taipei aims to “show presence” and signal its commitment to semiconductors, while building trust with Taiwanese companies, government and industry associations, he said. “The best outcome
Semiconductor equipment billings in Taiwan are expected to double this year, as manufacturers in the industry are keen to expand production to meet strong global demand for artificial intelligence applications, according to SEMI, which represents companies in the electronics manufacturing and design supply chain. Speaking at a news conference before the opening of Semicon Taiwan trade show tomorrow, SEMI director of industry research and statistics Clark Tseng (曾瑞榆) said semiconductor equipment billings in Taiwan are expected to grow by an annual 100 percent this year, beating an earlier estimate of 70 percent growth. He said that Taiwan received a boost from a
RSS