Pyeonghwa Motors (Hangul : 평화자동차) (Hancha : 平和自動車), (a Korean language word for "peace", also spelled Pyonghwa) is one of the two car manufacturers and dealers in North Korean automotive industry. It is a joint-venture in Nampo between Pyonghwa Motors of Seoul (South Korea), a company owned by Sun Myung Moon's Unification Church, and the North Korean Ryonbong General Corp. The joint venture produces small cars under licence from Fiat and Brilliance China Auto,, a pick-up truck and an SUV using complete knock down kits from Chinese manufacturer Dandong Shuguang, a Mercedes-Benz/SsangYong design luxury cars.
Pyeonghwa has the exclusive rights to car production, purchase, and sale of used cars in North Korea. However, most North Koreans are unable to afford a car. Because of the very small market for cars in the country, Pyeonghwa's output is reportedly very low. In 2003, only 314 cars were produced even though the factory had the facilities to produce up to 10,000 cars a year. Erik van Ingen Schenau, author of the book Automobiles Made in North Korea, has estimated the company's total production in 2005 at not more than around 400 units.
Read more about Pyeonghwa Motors: Early History, Further Models and Partnerships, Advertising, Joint-venture Stockholders, Model List
Famous quotes containing the word motors:
“When General Motors has to go to the bathroom ten times a day, the whole country’s ready to let go. You heard of that market crash in ‘29? I predicted that.... I was nursing a director of General Motors. Kidney ailment, they said; nerves, I said. Then I asked myself, “What’s General Motors got to be nervous about?” “Overproduction,” I says. “Collapse.””
—John Michael Hayes (b. 1919)