MANILA,
Philippines - Local auto parts makers yesterday defended the Comprehensive
Motor Vehicle Development Plan (MVDP) against the Alliance of Vehicle Importers
and Distributors (AVID) and insisted that EO 877-A is not a “midnight” EO.
AVID has
written to President Aquino asking for the revocation of the EO saying that it
is a midnight EO.
The
Philippines ranks a poor fifth among ASEAN countries in automotive
manufacturing, according to Raffy Villarreal, president of the Motor Vehicle
Parts Manufacturers Association of the Philippines (MVPMAP).
Villarreal
said proof of the Philippines’ lagging competitiveness in motor vehicle
manufacturing is the dwindling number of parts manufacturers.
Chinese car maker completes takeover of Volvo-report
By Agence France-Presse
Tuesday, 03 August 2010
www.inquirer.net
BEIJING – Chinese car maker Geely Holdings on
Monday formally completed its deal to buy Sweden's Volvo Cars from US auto
giant Ford at a ceremony in London, state media reported.
Li Shufu, chairman of both Geely Group and Volvo Car Corporation, told China's
official Xinhua news agency that he hoped to see the struggling Swedish brand
again become a leader in the global luxury auto market.
