China Economic ReviewLiaoning province is to take a controlling stake in Brilliance China Automotive Holdings, Reuters reported. Huachen Automotive Group Holdings, which is wholly owned by the Liaoning provincial government, is to pay US$18.5m to buy a 39.45 per cent stake in Brilliance China from the Chinese Financial Education Development Foundation. The announcement removed the uncertainty that […]
US-based car rental firm Avis has set up a joint venture in Shanghai, China Daily said. Anji Car Rental and Leasing, 50-50 owned by Avis Europe and Shanghai Automotive Industry Sales Corp, will take over the existing fleet of 1,000 vehicles from Shanghai Anji Car Rental and operate it under the Avis brand name. The […]
Honda Motor of Japan said it has won approval to build a US$193m factory in Guangzhou, its second in China's auto market. The facility, which should start production in the second half of 2004, will build passenger cars exclusively for export to Europe and Asia, outside Japan. Honda will take a 65 per cent stake […]
The central government will invest Yn43m in a project to produce cleaner motor vehicle engines, Xinhua reported. Wang Binggang, chief expert with the National Clean Automobile Taskforce, said that total investment in the project would reach Yn1bn, with motor manufacturers and local governments providing the bulk of the funds. A recent conference in Beijing agreed […]
US car-maker General Morors has launched a joint venture to produce a new minivan for the Chinese market, Reuters reported. The venture with SAIC-Wuling is GM's third joint venture in China. It has already started introducing the seven-seater Wuling Sunshine, based on a Wuling chassis with technology from GM's other Chinese ventures. The model is […]