Dongfeng Motor Co. Ltd., one of China’s top three giant automakers, is set to distribute cheap cars in the local market and eventually put up an assembly operation here for cars and buses.

This was revealed by Alfonso Uy, president of the Federation of Filipino Chinese Chamber of Commerce and Industry Inc., to reporters at Saturday’s opening of the 10th World Chinese Entrepreneurship Convention on the theme “World Prosperity Through Chinese Entrepreneurship.”

Uy said that Dongfeng or DFM is among the 2,000 Chinese companies that participated in the parallel Chinese product exhibition also at SMX.

“I just met them briefly and they informed me of their business plans in the country,” Uy said.

Uy said Dongfeng’s cars are cheaper than the Chinese cars that are being sold in the local market today.

Formerly Second Automobile Works CO., the state-owned DFM was founded in 1969 as a manufacturer of passenger vehicles, commercial vehicles, engine, auto parts & components, and equipment.

The company has invested in research and development and manufacturing facilities and established an extensive distribution and after-sales support.

Its major business facilities are located in Shiyan, Xiangfan, Wuhan and Guangzhou. In addition, several branches are placed in Shanghai, Liuzhou (Guangxi), Yancheng (Guangxi), Nanchong (Sichuan), Zhengzhou (Henan), Urumchi (Xinjiang), Chaoyang (liangning), Hangzhou (Zhejiang), Kunming (Yunnan).