Chinese will take control of JAC Motors in Brazil
JAC Motors will take control of its Chinese subsidiary in Brazil. Currently, led by Habib. The businessman has 66% of the shares and the Chinese holds the remaining 34%, but this ratio will be reversed soon.
According to the newspaper O Estado de S. Paulo, the Chinese not only invest more money in the project (estimated at 1 billion dollars) and will also manage the future plant Cama?ari (BA), whose works have not started yet - what should happen in one to two months, reported the press office of the newspaper JAC Motors.
Thus, the opening of the plant, which was scheduled to happen later this year, should happen only in the second half of 2015. Today, Habib is a majority shareholder of the factory. According to JAC, the changes were requested by the Chinese themselves.