China Economic ReviewChina‘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 […]
Toyota will invest nearly US$700 million in a fully fledged research and development base in China. The facility will be built at the economic development zone in Changshu (the name propitiously means "a place of all time harvest") near Shanghai. The company plans to invest US$689 million to buy the land, build research facilities and […]
China Automotive Systems said its subsidiary, Wuhan Jielong Automotive Electric Power Steering, has begun construction in Wuhan of a new factory designed to manufacture electric power steering (EPS) units. The new facility is located in the Wuhan Optical Valley High-Tech Development Zone and the total investment is expected to be approximately US$10 million. China Automotive […]
Toyota (7203.TYO) is planning to open a US$234 million research center in Changshu, northwest of Shanghai, which will focus on plug-in hybrids and all-electric battery car technology, the Wall Street Journal reported. The company said it plans to open part of the center – which will be called Toyota Motor Engineering & Manufacturing (China) Co […]
China’s vehicle sales increased 25.5% in October compared to the same month last year. According to the China Association of Automobile Manufacturers, 1.2 million passenger cars and 340,000 commercial vehicles were sold last month. Nearly 70% of the passenger vehicles purchased in October had engines with a displacement of 1.6 liters or smaller. According to […]