China Economic ReviewHankook, Korea’s largest tire maker, will begin construction of a new plant in China early next year to meet growing demand for tires in what has become the world’s largest and fastest-growing automobile market. The new plant will be in Chongqing in southwestern China and construction will begin in the first quarter of 2011. for […]
In China’s auto industry the phrase "Golden September – silver October" is often used because that is when automotive sales peak. This year it happened with a vengeance, with 1.5 million light vehicles delivered in October, equivalent to the September figure, and 27% higher than the year before. Passenger vehicle sales grew 31% to 1.1 […]
China XD Plastics, which makes modified plastics for use in automotive applications, has signed an exclusive agreement with Ningbo Huazhong Plastic Products to develop and supply modified plastics for use in electric vehicles. Ningbo Huazhong is an automotive parts supplier for a number of leading automotive OEMs in China, including China FAW Group, Shanghai Automotive […]
China is aiming for annual sales of 1 million new-energy cars by 2015. The target of 20,000 green vehicles for public transport by the end of this year seems very likely. And a million new energy vehicles a year, with a target of 100 million by 2020, is possible depending on the subsidy. As of […]
China‘s leading automaker SAIC Motor has acquired a stake in General Motors prior to the US automaker’s public offering in Hong Kong. SAIC Motor HK Investment, wholly owned by SAIC, bought 15.2 million ordinary shares for US$500 million, accounting for 0.97% of GM’s total equity. SAIC said the investment in GM was based on "the […]