GAC – possibly the only company acronym that sounds like street slang for meth – is back in the news this week, this time for opening a new manufacturing plant in Panyu.
The plant is a joint venture between Fiat Chrysler and Guangzhou Automobile Group Co. (GAC) and has an assembly capacity of 160,000 vehicles. The factory is expected to spawn a manufacturing yield of RMB28.2 billion (USD4.4 billion) per year, according to Shanghai Daily.
According to GAC’s chairman, Zhang Fangyou, the new plant is the result of economic collaboration between China, Italy and the United States.
The new factory will advance exchanges and support in terms of investment, staff and technology between Fiat Chrysler and GAC, according to Zhang.
READ MORE: Guangzhou Automaker Sees Massive March Sales Increase
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