AUTOMOTIVE TRANSPORT TRANSPORTS MANUFACTURING COMPANY OF AUSTRALIA has been buying Chinese automotive company Logisticate transport services, according to Australian Financial Journal.
It follows an announcement by Logisticates parent company BHP Billiton last month that it would invest $400 million in Australia.
The deal has been signed between Australian and Chinese companies and the first Chinese car will be built in Australia by the end of 2020.
BHP will build a new factory in Adelaide and hire a third-party vehicle engineer to build a second-hand, first-hand vehicle.
Logisticate has been supplying carmakers with a range of transport services including road transport, freight and freight container management and the logistics of cargo handling and freight forwarding.
Last year, the company paid more than $1 billion in fees to the Australian government for the provision of its transport services to foreign governments and corporations.
China is Australia’s largest foreign investor with a $5.3 billion direct investment.
Earlier this year, it announced it would build a $4.8 billion passenger transport hub on the southern coast of Australia and create 500 jobs.
Chinese President Xi Jinping visited Australia in August and is due to visit the country again in 2019. AAP/ABC