BMW’s recent appearance on China’s 2009-2010 government procurement list has created a stir not only among automotive circles but also the general public.
One website headline reads: “When a civil servant drives a BMW, the government official becomes a newly rich.”
A local analyst aptly points out that the strong reaction reflects two kinds of public sentiment. [...]
After two years of searching for a new partner so as not to be left out of the express bandwagon of China’s automobile market, Fiat Automobiles SpA finally secured a 50:50 JV deal with Guangzhou Automobile Group Corp. (GAC). And it was also significant that a base agreement was signed in Rome in the presence [...]
After seven years living in the U.S. “in exile,” former Brilliance China chairman Yang Rong has recently made public his grand scheme of creating a new automobile group with a goal of annually making 3 million vehicles in the U.S. and another 3 million in China with a total investment of at least $20 billion.
On June 2, a day after it filed for bankruptcy protection, General Motors Corp. said it reached a memorandum of understanding (MOU) to sell its Hummer brand to a privately held Chinese company – Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong).
According to the MOU, Tengzhong will acquire the rights to the Hummer brand, retain [...]
CHANGESHA, Hunan – BYD (01211.HK), China’s largest rechargeable battery maker and an ambitious automaker, sign an agreement on July 24 to take over Midea Coach Manufacturing Co., Ltd. at a price of ¥60 million ($8.8 million) from its owner Midea Group, one of the largest home appliances manufacturers in China, according to a company press [...]