Founded in March 2016, CCIG is a mixed-ownership, state-owned enterprise established as a joint venture between CRRC and local state capital in the Yangtze River Delta region.
The company is headquartered in Fenhu, Wujiang, Suzhou, with total assets of nearly 50 billion yuan and net assets of more than 28 billion yuan, employing nearly 10,000 workers.
Compared to other manufacturers in China such as Yutong and Byd, CRRC has yet to establish strong operations in Europe and Italy, showing potential for growth.
Ccig is expected to take a 25% stake in Industria Italiana Autobus (Menarinibus), facilitated by the new ownership of the Civitillo family.
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