Posts Tagged ‘joint venture’
Subaru to be branded as Chery in China
Published on November 27, 2011 by Tycho de Feyter
The proposed joint venture between Japanese automaker Subaru and China’s Chery is ready to be approved, sources involved in the matter say.
According to reports from Chinese media, the Chinese government has imposed two conditions to Subaru’s owner Fuji Heavy Industries. First and foremost, the Japanese need to allow their vehicles to be branded with the Chery logo and secondly, the sales network in China should be headed by Chery.
Changan PSA JV to start production in mid-2013
Published on November 25, 2011 by Tycho de Feyter
A new joint venture (JV) between the China Changan Automobile Group and French automaker PSA Peugeot Citroen will start production in the middle of 2013, Changan’s chairman Xu Liuping said Sunday. Production will start with Citroen’s DS-line of vehicles, including the DS3, DS4 and DS5.
The venture will have an initial annual output capacity of 200,000 vehicles and engines and will gradually increase capacity in accordance with market demand, Xu said at the company’s founding ceremony, held in the city of Shenzhen in south China’s Guangdong province. Read more »
GM and SAIC creating new three-cylinder engines
Published on October 14, 2011 by Tycho de Feyter
The new engines are being built as part of a partnership with the Shanghai Automotive Industry Corp, or SAIC and General Motors. GM recently raised fears among many, including members of Congress, that it was giving away critical technology involving extended-range electric cars to China. GM denied it. This deal could raise those fears again, only this time about internal combustion technology.
Production is expected to begin mid-decade. The engines will be introduced in GM global vehicle programs across multiple vehicles in various parts of the world. Via: USAToday.
SAIC ‘ready’ to pare stake in joint venture with GM
Published on September 5, 2011 by Tycho de Feyter
SAIC Motor Corp is ready to give up its majority ownership in a car venture with General Motors Co (GM) as long as Shanghai GM’s revenue can still be included in its books, two people familiar with the matter said on Thursday.
Under Chinese accounting rules that came into effect in 2010, a subsidiary’s revenue can be reflected in the books of the parent only if the parent is the majority shareholder. Read more »
FAW-Volkswagen to develop SUV for China
Published on August 19, 2011 by Tycho de Feyter
The FAW-Volkswagen joint venture will develop a ‘city SUV’ based on the PQ35 platform that underpins, among others, the Volkswagen Tiguan and Golf 6. The current Tiguan is already made in China by VW’s other joint venture with Shanghai Auto. The new FAW-VW city SUV will likely be made in the joint venture’s new factory in Chengdu, Sichuan Province. Via: Auto.163.
Volkswagen to get a bigger share in FAW-VW
Published on August 16, 2011 by Tycho de Feyter
As China’s auto market sets global records and holds the promise of even greater gains, the nation’s top luxury carmaker is pushing for a bigger share – of its own partnership.
While neither side in the 20-year-old joint venture between FAW Group and Volkswagen AG will comment publicly, industry watchers say a change in its shareholding is taking shape.
Beijing Auto and Russia’s AMS Auto announce joint venture
Published on July 20, 2011 by Tycho de Feyter
China’s fifth largest automotive group, Beijing Automotive Group (BAIC Group), announced the establishment of a joint venture with Russia’s AMS Auto.
The Beijing-based BAIC Group said total investment in the joint venture, BAW-RUS Automotive Co., Ltd., is about 176 million U.S. dollars, with a registered capital of 20 million dollars.
Chang’an-PSA joint venture officially launched in China
Published on July 19, 2011 by Tycho de Feyter
The Chinese government has approved the Chang’an-PSA (aka Chang’an-Peugeot-Citroën) joint venture. It is the second joint venture from PSA in China, the other one is Dongfeng-Peugeot-Citroën.
Daimler to invest 2 bln euros to expand its Chinese joint venture
Published on July 4, 2011 by Tycho de Feyter
German auto giant Daimler AG has signed an agreement with its Chinese partner Beijing Auto to invest 2 billion euros into their joint venture in the Chinese capital, allowing Mercedes to expand production of compact luxury SUVs, said the Chinese company. Read more »
GM aims to buy back 1% of Chinese venture
Published on June 10, 2011 by Tycho de Feyter
General Motors Co (GM), the biggest overseas automaker in China, said it intends to exercise an option to buy back a 1 percent stake in its main car venture in the country to make it an equally held unit with its partner.
“We have an option to buy that 1 percent,” Chief Executive Officer Dan Akerson told shareholders on Monday at the automaker’s annual meeting in Detroit. “It’s our intention to exercise that.”
