ALD Automotive and Fortune Investment have agreed to create a
fleet management joint venture in China, it has been announced.
The operating leasing subsidiary of the Société Générale Group
has joined forces with Fortune Investment, part of Chinese
steelmaker Baosteel, with a view to “accelerate together the
development of fleet management in China, taking advantage of the
potential of the automotive sector in this market”.
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Operations for the 50-50 joint venture are expected to start in
the coming weeks.
ALD Automotive China has been in the country since 2006 and
already manages a small fleet in Beijing and Shenzhen.
ALD Automotive China’s current CEO Olivier Forges will manage
the new entity.
Antonio Fabrizio
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