Home China Headline Pioneer targets city

Pioneer targets city

Japan's Pioneer Corp plans to invest US$10 million to establish a wholly-owned venture in Shanghai to help satisfy the growing demand for automotive electronics, the company said yesterday. Pioneer, which specializes in navigation devices, has formed Pioneer Electronics (Shanghai Export Zone) Co Ltd in southern Shanghai. The new enterprise will start production in August, according to a statement from Pioneer China Holding Co Ltd. The plant will make car stereos, including CD and DVD players. Its production capacity is scheduled to reach four million units by March 2010, most of which will be exported to the global market. The Shanghai new plant is part of Pioneer's plan to invest two billion yen (US$17 million) in developing car stereos over the next three years in China and Thailand as booming sales in developing countries fuel market demand. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

< Prev		Next >