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According to the agreement of both parties, Shanghai Automotive Industry Corporation’s subsidiary, Shanghai Automotive Industry Sales Corporation, will hold a 50% stake in the Lubricant Rapid Oil Change Joint Venture, and Shell China Holdings and Shell (China) will hold 40% and 10%. In 2006, the joint venture will establish 10 medium-sized service points in Shanghai, and will expand to Beijing and other cities to comprehensively promote Jiffy oil change and other maintenance services.
China is the world’s third largest automotive sales market, and its after-sales service has also grown rapidly. Shell Group has high-quality Helix lubricants and Jiffy lubricants. Shell's acquisition of Pennzoil-Quaker in 2002 made Jiffy lubricants a leader in the North American market.
Multinational companies in China: Shell will build 600 oil change service points in China
Shell Group has decided that it will invest 23 million U.S. dollars with Shanghai Automotive Group Corporation to establish the Jiffy Oil Change Oil Service Chain in China, which will be the first type of service in this field. Both sides plan to establish 600 service points within 10 years.