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Beiqi Foton Motors Co, China's largest commercial vehicle maker, will tap the new energy auto market by setting up a joint venture to develop and produce vehicle batteries, the company said yesterday in a statement.
Geely Holding Group Co's 10-month effort to buy Volvo from Ford Motor Co may fall apart within days as the companies struggle to agree on intellectual property rights, two people familiar with the talks said.
China's auto industry yesterday sped past an impressive milestone as the 10-millionth vehicle - a heavy-duty "Jiefang" truck - rolled off the production line.
Beijing Autos, a Chinese company that employed a former Ford Motor engineer arrested in the United States for allegedly stealing trade secrets, said yesterday it is watching the case, but relies on its own designs and technology.
Editors' note: Public opinion and insider views vary widely on Sichuan Tengzhong's surprise bid to buy and continue producing GM's Hummer brand. China Daily reporter Zhang Ranran recently interviewed both GM President and CEO Fritz Henderson and Nick Reilly, GM executive vice-president and head of the auto giant's recently formed GM International Operations (GMIO), to hear their views on the potential sale.
As many as 5.5 million cars will be on Beijing's roads by 2015, although the growth rate will stabilize in the next five years, a senior local transport official said.
As a result of robust sales in the first three quarters of 2009, the Chinese mainland has vaulted ahead to become the fourth-largest market for BMW Group.
China's passenger-car sales surged 84 percent last month as government stimulus measures and an economic rebound spurred demand.
For many it's appropriate that Hummer means a horse that cannot be tamed as they believe the utility vehicle would not co-exist happily with Tengzhong's stable of other products.
GM achieved an all-time monthly sales record in China in September, boosted by robust demand in many of the country's small and medium-sized cities.
Tengzhong Heavy Industrial Machinery Co, Hummer's soon-to-be new owner said the company will try to make the gas-guzzler adapt to the times.
General Motors and Chinese Sichuan Tengzhong announced on Friday that they have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain Hummer brand.
