The Ministry of Public Security said the number of motor vehicles on China’s roads has hit 199 million, including more than 85 million automobiles, Xinhua reported. The ministry definition of motor vehicles includes motorcycles, tractors trucks and cars. According to a ministry statement, a total of 205 million Chinese have learned to drive. Of this […]
Category: Autos
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Hi-tech bubble car comes back
The bubble car, pioneered by Messerschmitt, Heinkel and others in the ’50s and ’60s, is coming back but with built-in the technology to tackle scarce road and parking space, pollution emissions and dwindling fossil fuels. The two-wheeled EN-V is the product of a partnership between General Motors and Shanghai Automotive Industry and uses the balancing […]
Toyota Motors’ sales in China may overtake its sales in Europe this year, Bloomberg reported. Toyota announced Wednesday it expects sales in Europe to fall 10% to around 800,000 units this year. In contrast, Toyota plans to increase deliveries to China by 13% this year to more than 800,000 vehicles. Toyota’s China sales would still […]
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Warren Buffett comes to BYD in China
BYD, which stands for Build Your Dreams, was China’s fastest growing car company in 2009. Berkshire Hathaway bought a 10% stake in BYD for $230 million in 2008, which is today worth an estimated US$1.5 billion, a sevenfold rate of return. When Warren Buffet made his trip to the Changsha factory where BYD vehicles are […]
Japan’s Nissan Motor plans to double its production capacity in China to 1.2 million units by 2012 as it aims for a 10% share of the world’s biggest auto market. The new plan is 20% above an earlier published target of Nissan, emphasizing its strong interest in China. Understandable because China has galloped ahead while […]