Nissan will start making Infiniti cars at a 2-billion-yuan ($315 million) plant in China from 2014 as it moves to challenge the dominance of German rivals in the world’s largest auto market.
Chinese-made Infiniti cars would put Nissan on a more level playing field with Audi, Mercedes Benz and BMW, which have been making cars in China for years, industry observers say. Imported Infiniti cars have been available in China since 2007.
Shanghai-Volkswagen started work on a new factory in Xinjiang Province. The central Chinese government wants to develop the far and barren area and the one thing they need most is work for the restive local population. For work, they need investment but many private Chinese companies don’t want to go, fearing obstacles ranging from security issues to language-problems.
State-owned companies however can be forced to go, and this is where Shanghai-Volkswagen comes in. Rumors-that-are-likely-to-be-true say the joint venture didn’t have a choice than to built the factory. Well, let’s say it was a politically smart idea to do it… Capacity will be only 50.000 cars a year in 2014. Read on for a report from China’s state media:
Weibo is the Chinese equivalent of Twitter, zillions of young Chinese use it every day to comment on the news, on new products and on almost everything else. Cars are a hot topic so most automakers got their own ‘Weibo’. Bentley got one too and here things get extra interesting because the brand has launched a new Weibo-app for the EXP 9 F concept called ‘EXP Lab’.
Luxury sports car manufacturer Ferrari will recall another 56 vehicles imported to the Chinese mainland due to defective crankshafts, China’s quality watchdog said Friday.
The recalls by Ferrari Maserati Cars Sales and Services (Shanghai) Co will cover 14 of Ferrari’s 458 Italia and California models manufactured before October 7, 2011, due to a mistake in building the crankshafts for the engines, the General Administration of Quality Supervision, Inspection, and Quarantine (AQSIQ) said in a statement on its website.
BMW AG and its joint-venture partner Brilliance China Automotive Holdings Ltd. will invest €500 million ($628.6 million) to increase production capacity in China, the German car maker said Thursday, suggesting that luxury-car makers remain upbeat about growth potential in China amid economic concerns in Europe.
“China belongs to the three most important markets world-wide for BMW Group and offers great growth potential, particularly in the premium segment,” Chief Executive Norbert Reithofer said on the sidelines of the opening ceremony for BMW’s second production plant in China.
Zhongsheng Group Holdings Ltd , a major Chinese auto retailer, announced on Friday it has acquired a 70 percent stake in German vehicle-personalization specialist Carlsson Autotechnik GMBH to meet rising demand from wealthy Chinese car owners for custom bodies and souped-up engines.
China’s auto retailers like Zhongsheng and Pangda Automobile Trade Co are diversifying their offerings to gain market share as the country’s nouveau riche spend millions on luxury cars.
Saab might be saved again. This time by a Chinese-Japanese consortium specialized in clean energy and power plants. It isn’t just a rumor. The consortium has established a Swedish company called ‘National Electric Vehicle Sweden AB’ which has placed a bid for what is left of Saab. Read more from Bloomberg:
A group led by a Chinese energy company and a Japanese venture-capital firm has placed a bid for bankrupt Swedish carmaker Saab, a spokesman for the investing team said.
The two main parties in the group are Sun Investment, a Japanese firm that specializes in high-tech environmental projects, and National Modern Energy Holdings Ltd., which has roots in Hong Kong and builds and owns power plants.
China’s biggest car exporter Chery Automobile Co will soon start assembling vehicles in Vietnam, its latest move to tap overseas markets as growth in the low-priced car segment stalls in China.
The Anhui-based company said last week in an emailed statement that it has agreed with local partners to establish an assembly plant in northern Vietnam to produce and sell its cars in the southeastern Asian country.
Finally, after talking for some two years and bidding for Saab at least 10 times Youngman finally does what it should have done along long time ago: give up. From ChinaDaily:
Chinese automobile company Youngman had quit the negotiation on purchasing the Swedish car maker Saab with its bankruptcy administrators, reported the Swedish newspaper Daily Industry (DI) on Wednesday.
Earlier this week we reported about rumors in the Chinese press saying Lincoln cars would possibly be made in China from 2015. The rumors are looking more like facts today as Chinese media reports that the first Lincolns to be made in China are the new MKZ sedan en the MKX SUV, production of both cars will start in 2015, according to the reports. There is more…