Hyundai Motor plans to build two new factories in China. The automaker plans to open a new plant in the northern Hebei province and another one in Chongqing. Hyundai, which has three factories in Beijing, in March signed a preliminary agreement to build a plant in the southwestern city of Chongqing to help the automaker expand into western China.
Venucia, a sub-brand of the Dongfeng-Nissan joint venture, is working on a new SUV and a new MPV for the Chinese car market. The SUV will be unveiled at the Guangzhou Auto Show in November, it will be based on the old Nissan X-Trail.
China car sales hit 1.71 million units in August, up 4.04 percent year on year and up 6.72 percent month on month. The automobile output hit 1.71 million units in August, up 2.22 percent year on year, but down 0.34 percent month on month, according to the China Association of Automobile Manufacturers (CAAM).
Volvo is working on a new large sedan exclusively for the Chinese car market called the Volvo S90L. The S90 is basically a stretched variant of the generation Volvo S80, which is based on Volvo’s new SPA platform that also underpins the new Volvo XC90.
The S90L will be manufactured in China where it will compete directly with the locally made & stretched Audi A6L, BMW 5Li, and Mercedes-Benz E-class L. The S90L is expected to launch in China in late 2015. Power will come from the same engines as in the new XC90: T5 257hp 2.0 turbo, T6 325hp 2.0 turbo-supercharged, and a T8 405hp 2.0 turbo-supercharged + electric motor.
At the same time Volvo is developing the full size Volvo S100, which will compete with the A8, 7-Series, and S-Class. Design will be based on the Volvo Concept Universe that debuted on the 2011 Shanghai Auto Show. The S100 will debut sometime around 2018.
Dongfeng Peugeot Citroen Automobile Company (DPCA), a joint venture of French carmaker PSA and Chinese automaker Dongfeng Motor Corporation, is expected to build a fourth factory in China. Construction will start later this year and the first car is scheduled to roll off the line late in 2016.
Profits of Chinese carmaker BYD decreased 15.5 percent year-on-year to 361 million yuan ($58.7 million) in the first half of this year. The profit fall was “mainly due to the decrease in the traditional automobile business”, the Shenzhen-based carmaker said in a statement.
China’s e-commerce giant Alibaba Group (web) has signed an agreement with China Grand Auto Services Co Ltd. (web), the country’s largest passenger vehicle dealer, to set up an online trading platform for secondhand cars. The move will basically create a Chinese version of eBay Motors and has the potential to serious shake up China’s secondhand car market, and to add serious money to Alibaba’s coffers.
China’s Dongfeng Motor Corporationhas issued an official statement saying it never had any contact with NEVS Saab or with its shareholders concerning a possible take-over or an investment. On August 21 Economic-news magazine China Securities News published an article citing unnamed sources saying such contact had been established earlier this month.
The Beijing AutoSenova brand is working on five new cars for the Chinese car market, all will have been launched by 2016. First up is the Senova D60, the final production version will debut on the Chengdu Auto Show in September.