OREANDA-NEWS. November 22, 2011. After Chery decided to build a plant in Brazil in July this year, Jianghuai Automobile Company (JAC), another leading auto enterprise in Anhui, also announced last week that it will build a joint venture with total investment of 600 million dollars in Brazil, as JAC has signed Framework Agreement on Brazilian Plant with SNS.

According to the agreement, the joint venture will produce next-generation passenger vehicles and the products of the joint venture will use the brand of JAC. The registered capital of the joint venture is 120 million dollars and JAC holds 20% of the share while SNS holds 80%. It is expected that the annual production capacity of the joint venture will hit 100 thousand vehicles.

Chery started the construction of industrial park in Brazil on July 19 this year. It is learned that the project is located in Jacareí, São Paulo, occupying an area of 1 million square meters. The project is divided into 2 phases and the investment of the first phase reached 134 million dollars.