Archive for the ‘Industry News’ Category
Dongfeng to buy 45% of Fujian Motor
Published on May 20, 2013 by Joey Wang
In the biggest consolidation in the nation’s fragmented auto industry since 2009, China’s second-largest automaker Dongfeng Motor Corp agreed last week to become a shareholder in Fujian Motor Industry Group Co. Ltd.
Dongfeng signed a framework agreement with the Fujian provincial government to acquire shares in the local automaker from its owner, the Fujian State-owned Assets Supervision and Administration Commission.
Guangzhou Auto and Zhongxing announce Strategic Partnership in China
Published on May 17, 2013 by Joey Wang
Guangzhou Automobile Corporation (GAC, aka Guangzhou Auto) and Zhongxing Automobile (ZX Auto) have announced a strategic partnership. The pair will work together to develop a new generation of small and medium-sized vehicles, and they will develop a new series of green cars.
Volkswagen to open new car plant in central China
Published on May 17, 2013 by Joey Wang
German automobile conglomerate Volkswagen AG will invest 12 billion yuan ($1.95 billion) to build its first plant in Central China, in a bid to help increase its capacity to meet the rising demand from the world’s largest vehicle market and respond to the similar move its major rival General Motors announced last month.
The new plant will be set up by Volkswagen’s joint venture with China’s SAIC Motor, and will have an annual output of 300,000 units, German national daily newspaper Frankfurter Allgemeine Zeitung reported.
Hyundai and Kia to recall 175.000 cars in China
Published on May 14, 2013 by Joey Wang
Korean automakers Hyundai and its subsidiary Kia will recall more than 175,000 cars due to defective brake light switches, China’s consumer quality watchdog said on Monday.
Starting on Monday, Beijing Hyundai Motor Company will recall 121,835 of its IX35 models manufactured between April 9, 2010 and October 6, 2011, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said in a statement.
Hyundai considering fourth plant in China
Published on May 10, 2013 by Joey Wang
South Korea’s Hyundai Motor Co is considering building a fourth car plant in China, its vice chairman said on Friday, as it seeks to increase production overseas to counter the effect of a firm local currency coupled with a falling yen as well as labor issues.
The comments from Hsueh Yung-hsing might a indicate change in the group’s attitude toward capacity expansion, but it is not clear whether group chairman Chung Mong-koo will approve the move because of his disciplined capacity approach, said a person familiar with the matter.
China car sales up 16.6% in April
Published on May 10, 2013 by Joey Wang
Passenger vehicle sales enjoyed double-digit year-on-year growth in April, with the week-long Shanghai Auto Show and the three-day toll-free Labor Day holiday boosting figures in the fourth week of the month, particularly.
Total sales of cars, sports-utility vehicles, multi-purpose vehicles and minivans accelerated 16.6 percent from last year to 1,341,900 during the month, the China Passenger Car Association said on Thursday.
Carat Security Group to open plant in China
Published on May 9, 2013 by Joey Wang
Carat Security Group, the Belgian company which specializes in providing armored limousines worldwide, plans to open its first manufacturing facility in China. Carat Security, which produces vehicles under the Carat Duchatelet and Centigon brands, has a 40-year history in the business. It has supplied vehicles to royal families in the Middle East, African leaders, and top Western government officials, said Benoit Ceulemans, its vice-president.
GM to build $1.3 billion Cadillac plant in China
Published on May 9, 2013 by Joey Wang
General Motors, the largest foreign automaker in China, said it won regulatory approval to build a Cadillac factory to boost sales of luxury vehicles in the world’s biggest automobile market.The National Development and Reform Commission has signed off on the plant, which will be located in Shanghai’s Jinqiao zone, with construction beginning in June.
Ferrari looking for more Sales in China
Published on May 9, 2013 by Joey Wang
Ferrari unveiled a five-year business strategy on Wednesday in which it hopes to increase its turnover from China and the United States, as income from Europe remains sluggish. “The Greater China market plus the Far East region will contribute 2 percent more turnover to Ferrari in the next five years, while the US will generate 10 percent more,” said Luca di Montezemolo, its chairman.
BYD to open Bus Plant in the USA
Published on May 6, 2013 by W.E. Ning
Billboards along Southern California’s Antelope Valley Freeway read “Lancaster welcomes BYD”, heralding the opening of a bus factory by the Chinese maker of electric vehicles and batteries.
BYD Co on Wednesday became the first company from China to announce it will produce vehicles in the United States. It plans to build as many as 1,000 plug-in electric buses a year at a refurbished recreational-vehicle factory in the Mojave Desert city of Lancaster.
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