Guangzhou Automobile Group Co, China’s sixth-largest automaker, has been in talks with Hunan Changfeng Motor Co on a possible merger, state media reported. A report in China Business News said Guangzhou Auto was looking to take a controlling stake in the pickup and sport-utility vehicle maker through its Shanghai-listed unit. Guangzhou Auto is the Chinese partner of Toyota and Honda, and a cooperation could help it form a third partnership with Mitsubishi, which currently owns 16.07% of Changfeng. China Business News said the deal is expected to be completed in the fourth quarter of this year.
Copyright © 2018 SinoMedia Group Limited All rights reserved
You must log in to post a comment.