Beijing Automobile Speeding Up For IPO, "Beijing 40" IPO Fulfills Chinese Owned Automobiles Series

At present, Beijing Automotive Co., Ltd. of Beijing Automobile Group introduces its first SUV mode “Beijing 40” into market.

As for the 5 years’ time costing mode, Beijing Automobile Group does not expect too much on it. LI Feng, president of Beijing Automotive told reporter of during interview that “if we say Saab is using for “driving”, then Beijing 40 is using for “playing”.”It expects 8 – 10 thousand sales annually.

Sales goal does not seem too much, but the mode mean something for Beijing Automotive owned mode development. LI Feng says that “in the future, Beijing Automotive will introduce more SUV products, which will not only include SUV, but also Saab series will develop more city sport SUV. Meanwhile, it draws blueprint outline of Beijing Automotive. We already build our SUV around Saab platform, and we will develop higher end SUV around Benz technology.”

As insider view, Beijing Automotive will speeds up its own product lines and improve its brand reputation at the end of 2013. What’s more important, Beijing Automobile Group is preparing for IPO. LI Feng said that “Beijing Automobile Group IPO will be done in 2014.”

Although Beijing 40 just launches market, it does not strange mode for Beijing staff.

According to LIANG Guofeng, executive president of Beijing Automobile sales company and vice president of Beijing Automobile Group, introduction that at the end of last century, Warrior military vehicle was developed at that moment and Beijing 40 were under development sharing the same platform as well. “However, because the mode was similar with a mode developed by Beijing Automobile and Chrysler, it was stopped.”

In 2008, Beijing 40 concept car which developed based on Warrior platformlaunchesBeijing Auto Exhibition. However, after showing up at many domestic auto exhibitions, the car does not launch market. Until 2013, it finally lifts its veil.

As for 5 years “second development” costing, CHEN Hongliang, vice executive president of Beijing Automotive, explains that “we build “Beijing 40” is not just for a single car, but for an entire system. After we build up our system, SUV products will have its harvest after.”

According to his introduction, Beijing Automobile Group has built its SUV branch, and form SUV research center. Besides, it has built SUV research, manufacture and sales function operation independence system.