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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
June 19, 2015
Shanghai, June 19, 2015 ---Hitachi Automotive Systems (China), Ltd., a group company and the Chinese regional headquarters of Hitachi Automotive Systems, Ltd., and Hitachi (China), Ltd., the Chinese regional headquarters of Hitachi, Ltd., today announced that they determined to establish a new manufacturing company in Chongqing City with the aim of further expanding their automotive systems business in China.
China, the world's biggest automobile market, is expected to continue to grow further in the future, with domestic automobile production also set to expand. At present, Hitachi Automotive Systems has established 13 consolidated manufacturing subsidiaries, located primarily on the eastern and southern coasts of China, and intends to expand its business. One of the company's global strategies places increasing importance on catering to automakers which are expanding their bases into inland regions of China; as a consequence, Hitachi Automotive Systems (China) and Hitachi (China) are planning to establish a new manufacturing company in the inland region of Chongqing in 2016.
Hitachi will establish this new manufacturing company on approximately 170,000㎡ of land in the Liangjiang New Area, Chongqing, in order to manage local requests for support from automakers. Mass production is scheduled to start in 2018, and the company will aim to expand business in chassis-based products and engine management systems, both of which are subject to increasing demand.
Hitachi will continue to strengthen local support that is optimized to meet the specific needs of every region of the world; and, focusing on China as well, Hitachi intends to further expand its automotive systems business in the global market.
|(1) Company Name||Hitachi Automotive Systems (Chongqing) Ltd. (tentative)|
|(2) Location||Liangjiang New Area, Chongqing, China|
|(3) Establishment||2016 (tentative)|
|(4) Shareholders||Hitachi Automotive Systems (China) Ltd. : 90%
Hitachi (China), Ltd. : 10%
|(5) Capital||RMB 300 million (forecast for 2017)|
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan. The company is engaged in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, and offers a wide range of automotive systems including engine management systems, electric power train systems, drive control systems and car information systems. For more information, please visit the company's website at http://www.hitachi-automotive.co.jp/en/.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.