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Xinhua News Agency, Changsha, December 11 (Reporter Chen Jingzhi) Zhong Xinnong, general manager of Changfeng Group, said that the new model of the new car on the 10th will be off the assembly line in Changfeng, which means the start of Mitsubishi Motors' “China Strategyâ€. Hunan Changfeng Automobile Manufacturing Co., Ltd. is the largest mid-to-high-end off-road vehicle manufacturer in China with sales of 30,000 vehicles in 2003. In November of this year, the board of directors of Hunan Changfeng Automobile Manufacturing Co., Ltd. passed a proposal to introduce the "License Contract (CK)" of the Mitsubishi PAJEROCK series models. Since then, Changfeng Motor and Japan’s Mitsubishi Motors have signed relevant documents for the introduction of the Pajero CK series models and the introduction of CK series production technology. As the current CK series model of high-end off-road vehicles, Changfeng Motor will have its proprietary manufacturing technology and patent usage rights. However, they do not include the right to use certain proprietary technologies, information, and patents related to the manufacture of their engines, transmissions, and transferors, and licensed manual transmissions (the Mitsubishi V5M31 manual transmission used for licensed models including transfer cases). It is reported that the technology transfer agreement signed between Changfeng and Mitsubishi is exclusive, and other companies can no longer get the production technology of the series. And on the existing basis, Mitsubishi may have to further capitalize in Changfeng. As a result, Changfeng Automobile has a full range of high-, medium-, and low-range off-road vehicles, which will improve its competitiveness and overall strength in the domestic industry. Mitsubishi Motors was affected by events such as the "Car Recall Incident." This year's sales have declined and its performance has declined. In the first half of the financial year ended September 30, Mitsubishi Motors posted a net loss of 146.2 billion yen (1.38 billion U.S. dollars), compared with a loss of 80.2 billion yen in the same period of last year. Mitsubishi Motors expects a loss of 240 billion yen for the fiscal year ending in March 2005, which is 10 billion yen more than the company’s previous forecast. In April this year, Mitsubishi Motors’ German partner Daimler-Chrysler stated that it will no longer invest in Mitsubishi Motors and has to turn to other Mitsubishi consortium members for help. In this context, Mitsubishi must implement a self-rescue plan. . Mitsubishi has already shrunk its front line globally. According to He Fengqing of Changfeng Group, Mitsubishi Motors will focus its development efforts on China and its native Japan. China's auto market is a very growth market in the world. The huge market capacity is attractive to the auto industry all over the world. The Chinese market is undoubtedly the full hope of Mitsubishi’s recovery. At the off-line ceremony of MITSUBISHI PAJERO, Mitsuki Ichimi, head of the North Asia Division of Mitsubishi Motors Japan, said: "This project must be successful." The news from Mitsubishi Motors stated that it plans to complete the construction of 500 Mitsubishi branded stores in China by 2008. This not only proves that the Chinese market is of great significance to Mitsubishi, but also shows that Mitsubishi has begun to use the Chinese market to achieve its own turnaround plan. Mitsubishi Motors has already regarded the Chinese market as its main battlefield. However, Mitsubishi wants to fully roll out in the Chinese market, it still needs time. At present, China's cooperation with Mitsubishi Motors includes Hunan Changfeng, Hafei, Shenyang Mitsubishi Engine, Beijing Jeep, Southeast Automotive, and popular cars. Among them, the cooperation between most companies and Mitsubishi only stays at the technical level, and only Beijing Jeep uses Mitsubishi's trademark. Mitsubishi's cooperation with Beijing Jeep is conducted through the Dai-Ke Company. Because of its close relationship with Dai Ke, Beijing Jeep is also moving away from Mitsubishi's attention. The emergence of the financial crisis has made Mitsubishi have to re-measure the strength of Chinese partners. Changfeng Motor is the only vehicle company Mitsubishi has invested in China, and Mitsubishi owns 16.07% shares of Changfeng Motor. Under this circumstance, "Changfeng" in Mitsubishi's "China Strategy" became its first partner. It is reported that Mitsubishi will continue to increase capital thereafter. According to Li Jianxin, chairman of Changfeng Group, the specific technical details have not yet been discussed. The details of the capital increase will wait for the next round of negotiations. The off-road vehicle with the logo of MITSUBISHI PAJERO introduced by Changfeng Automobile Group cannot but be said to be a shock to Beijing Jeep. More important among these is that the new MITSUBISHI PAJERO model uses Mitsubishi's CK series technology, and this series of technology is still used for the first time on domestic SUVs. According to He Siqing of Changfeng Group R&D Center, Changfeng Group will rely on the imported models, constantly absorb and innovate technologies, and gradually form its own brand new concept of product development. At present, Changfeng has established its own technology research and development center and China's largest off-road vehicle industrial base, and has formed a complete system from parts and components to complete vehicle development. From this it can be seen that Changfeng Group wants to become the leader of China's off-road vehicles, and it must first introduce “absorption†in the first place. Li Jianxin believes that the R&D work will have to “take a four-pronged attackâ€. It is necessary to introduce technology to improve manufacturing capabilities and also to cooperate with foreign companies in R&D. And continue to improve innovation, and ultimately achieve independent research and development. He also said that he will continue to introduce new models and make SUVs more professional. According to relevant personnel of Changfeng Automobile Company, the introduction and production of the PAJEROCK series models will be carried out in three stages: By the end of December, the entire vehicle production of the company in Changsha Economic and Technological Development Zone, Hunan Province will be SKD (component assembly). The base will be assembled and produced; from January 2005 to the end of June 2005, the company will assemble and produce the vehicle's entire vehicle production base in Changsha Economic and Technological Development Zone, Hunan Province by means of CKD (parts assembly). It is expected that the series will be produced in 2005. By July 1st of this year, it will reach 40% of the localization goal of the entire vehicle. He Siqing said that the current capacity of the company is still far more than 40%. It is reported that Hunan Changfeng Group will continue to deepen cooperation with Mitsubishi next year to launch a variety of new models, and its cooperation will focus on the high-end off-road vehicle market. At that time, Changfeng Motor will also launch a number of Mitsubishi trademark high-end off-road vehicles. In addition to the Mitsubishi V73 technology, these vehicles will also use the V75 and V77 series models, and the engine power includes 2.8L, 3.0L, 3.2L, 3.8 L and other models. (Finish)