China Economic ReviewChinese cars are currently 5% to 10% heavier than competing models, and reducing the weight will shave off 6% to 8% of fuel consumption. Wang Li, head of auto sheet research and development at Shanghai-based Baoshan Steel, supplier of half of China’s auto steel requirements, reports the company is working with Chinese carmakers to cut […]
Chinese automaker Great Wall Motor will begin trial sales of its electric cars next year. And its sales of standard cars this year has been excellent. "I believe the second half will be better than the first half for China’s car market, and our sales will be better," Chairman Wei Juanjun said. The carmaker targets […]
Nissan (7201.TYO) Chief Executive Carlos Ghosn announced Monday plans to double the automaker’s China capacity to 1.2 million units by 2012, Reuters reported. Speaking at the opening of a new SUV plant in Zhengzhou, China, Ghosn said Nissan, which operates a joint venture with Dongfeng Motor Group (0498.HK), hopes to eventually achieve a 10% share […]
General Motors (GM.NYSE) has begun courting potential foreign investors, including Chinese joint-venture partner SAIC Motor (600104.SH), in anticipation of a new initial public offering planned for November, AP reported. The carmaker, in which the US government has a 61% stake after a $50 billion bailout in 2009, has announced that while it is primarily seeking […]
China’s Chery Automobile plans to build a US$400 million auto factory in Brazil, the Brazilian news agency Estado reported. Chery will build the factory in Jacarei, about 80 kilometers from the city of Sao Paulo, according to a memorandum of agreement signed between company president Yin Tongyue and the state of Sao Paulo’s investment promotion […]