Posts Tagged ‘Chevrolet vehicles’

GM”s Chevrolet Plans Large ‘Green Vehicles’ Ad Campaign

Wednesday, November 21st, 2007

General Motor Corp.(GM) is introducing an advertising campaign to raise awareness about Chevrolet’s “green vehicles.”
The automobile maker said the advertisements will showcase solutions for achieving better fuel economy.
The campaign will begin at the Live Earth concert and will continue throughout the year.

 

GM, DRB-Hicom In JV For Chevrolet Manufacturing Hub For Asean

Wednesday, November 21st, 2007

General Motors Asia Pacific Holdings LLC, a General Motors Corp. (GM) unit, said Tuesday that it entered into a joint venture with Malaysian auto distributor DRB-Hicom Bhd. (1619.KU) to sell and explore making Chevrolets for the Asean market.
Under the agreement, the companies will “explore the establishment of a local vehicle assembly program as well as a manufacturing hub for the production of Chevrolet vehicles, parts and accessories for the Asean market,” they said in a joint statement at the venture’s launch.
The joint venture will initially oversee the sale and distribution of Chevrolet vehicles in Malaysia, the companies said.
DRB-Hicom already oversees the sale and distribution of Chevrolet vehicles in the country through a wholly-owned unit. It did not say whether the unit will continue to sell Chevrolets after the joint venture commences operations.
DRB-Hicom Group Managing Director Mohd. Khamil Jamil told reporters that the joint venture will strengthen the partnership between the companies, and will help DRB-Hicom’s goal to eventually manufacture its own cars either alone or with a partner.
The GM unit will hold a 51% stake in Hicom-Chevrolet Sdn. Bhd., while DRB-Hicom will hold the rest, according to the companies. Investment in the joint venture is expected to be not less than a total MYR50 million, Mohd. Khamil said.
Sales of the first car under the partnership, a Chevrolet Aveo Notchback, will start Wednesday. The basic model costs MYR69,888.
The companies said they expect to sell between 2,000 and 3,000 cars by year-end under the joint venture. They will also launch three to four new models by April next year, according to Mohd. Khamil.
At Tuesday’s launch, GM and DRB-Hicom also confirmed they have submitted separate bids for a stake in Malaysia’s flagship automaker Proton Holdings Bhd. (5304.KU).
Both companies declined to say how much of Proton they want to own, citing confidentiality agreements.