General Motors said it has entered into an agreement to raise its stake in SAIC GM Wuling Automobile, a microvan joint venture it owns with SAIC Motor (600104.SH), the Wall Street Journal reported. GM would buy an additional 10% stake in Wuling for US$51 million, bringing its total holding to 44%, subject to regulatory approval. […]
Category: Autos
General Motors and SAIC Motor (600104.SH) are in discussions to reach an agreement on an equity purchase by the Chinese firm as part of the American automaker’s initial public offering, Reuters reported, citing people familiar with the matter. GM is expected to raise approximately US$13 billion through its IPO this month. Sources told Reuters that […]
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GM to target India with SAIC-designed cars
General Motors said it will work with joint venture partner SAIC Motor (600104.SH) to sell Chinese-designed cars in India to compete with offerings from Maruti Suzuki India (532500.BOM) and Tata Motors (TTM.NYSE, 500570.BOM), Bloomberg reported. GM and SAIC plan to introduce up to three light commercial vehicles and two passenger cars in India by 2012, […]
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Honda may build hybrid cars in China
Honda is looking at building hybrid vehicles in China. This is in line with the Chinese government’s intention to electrify the country’s cars to fight pollution and reduce dependence on imported oil. Honda chief financial officer Yoichi Hojo said, "Our partners in China, as well as the government, are keen to move toward electrification. It’s […]
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Jaguar Land Rover mulls China plant
Jaguar Land Rover, owned by India’s Tata group, plans to produce more than 50,000 vehicles a year from a new plant in China. Chief Executive Ralf Speth said JLR could "begin immediately" if it reaches a joint venture deal with a Chinese industrial partner. That would mean two quintessentially British cars, the Jaguar and the […]