 |
|
|
 |
|
Growth in China's passenger car sales slowed to 34 percent in April as a yearlong surge in demand began to falter, a private research group reported Monday.
PSA Peugeot Citroen signed a letter of intent on May 6 with China's No 4 automaker Chang'an Automobile Group to create a 50-50 joint venture.
When Chang'an Ford Mazda Automobile Co suspended production of the Mazda 3 subcompact at its plant in Chongqing last month, industry observers saw it as a sign the three-way venture is breaking apart.
The first-ever purchase of a private carmaker by a State-owned auto group last month saw Guangzhou Automobile Group Co (GAC), China's sixth-largest auto producer by sales, acquire a small minibus manufacturer in Zhejiang province, the latest consolidation move in the country's fragmented auto industry.
Dongfeng Nissan Passenger Vehicle Company, China's leading auto industry joint venture, began construction of its second plant in Guangzhou city's Huadu district Saturday.
French carmaker PSA Peugeot remains committed to building a third China plant as it speeds up expansion in the world's largest auto market, a company executive said on Friday.
The long-awaited stimulus plan for new energy vehicles is slated to come out by the end of May, which will boost domestic production of energy-efficient vehicles, said analysts.
French carmaker PSA Peugeot Citroen and China's fourth largest automaker Chang'an Automobile Group said on Thursday that they had signed a letter of intent for the creation of a 50-50 joint venture in China.
French carmaker PSA Peugeot has reached an initial agreement to set up a 50-50 vehicle manufacturing venture with China Changan Automotive Group as it speeds up expansion in the world's largest auto market.
Beiqi Foton Motor Company said Thursday it will pump 340 million yuan ($50 million) into its joint venture, Beijing Foton Cummins Engine Co, by the end of next year to ease the company's funds shortage.
Chinese carmaker Jianghuai Automobile Co is in talks with the Slovak government on a possible investment, the economy ministry said on Tuesday.
Chinese consumers' enthusiasm for cars boosted auto sales in April, figures from the China Automotive Technology and Research Center (CATRC) showed Tuesday.
