China Economic ReviewJapan’s largest car maker Toyota is in negotiations with First Automobile Works (FAW) to build a new factory to produce a luxury car for the Chinese market, Reuters reported. The new car would replace FAW’s Hongqi (Red Flag) model currently produced at its works in Changchun, Jilin province. The new factory would be in Tianjin, […]
Volkswagen has pledged to bring worldclass standards to its Chinese joint ventures, said Dr Bernd Leissner, president of the German company’s Asia-Pacific operations. Prices of domestically produced cars are around 30 per cent higher than world average and one way the company hopes to cut costs is to increase local production. Volkswagen will also increase […]
General Motors has signed a deal with Shanghai Automotive Industries Corp (SAIC) and Liuzhou Wuling Automobile Co to set up a joint venture to produce a new series of mini-vehicles in Liuzhou, Guangxi, Xinhua reported. GM will hold 34 per cent of the venture, SAIC 50.1 per cent and Wuling, in which SAIC holds a […]
Honda Motors, Japan’s second largest carmaker, is in talks with its Chinese joint venture partner and the Chinese government to set up a new plant to produce compact cars for export to Japan and the US, Nihon Keizai Shimbun said. The new plant would be built near Honda’s existing joint venture with Guangzhou Auto Group. […]
Fiat’s two automotive joint ventures in Nanjing are among the most highly valued overseas investments in the former Chinese capital and they play an important role in attracting other foreign companies. Anticipating a surge of cheaper imports fuelled by WTO tariff reductions, Chinese automobile manufacturers are cutting prices in a race for market share. The […]