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China's Zhejiang Geely Holding Group has lined up total financing of $2.7 billion to back its purchase of Ford Motor's Volvo car unit, sources said on Monday.
Chinese carmaker BYD Co kicked off retail sales of its electric-hybrid vehicle Monday, but is banking on the possibility a proposed government subsidy will spark sales of the vehicle in China.
Japanese auto maker Subaru will recall 70 Tribeca sport utility vehicles (SUVs) sold in China over door safety flaws, China's top quality watchdog said here Monday.
Toyota on Monday promised to compensate Chinese car owners on the latest recalls, the first of its kind in the country.
Toyota will replace pedals for unhappy owners
General Motors Co is recalling about 5,000 heavy-duty vans because of a risk of engine fire, the company said Friday.
Japanese automaker Suzuki Motor Corp's two joint ventures in China are expected to soon be combined into a single entity after a milestone merger between its Chinese partners.
Zhejiang Geely Holding Group, China's No 10 automaker, sealed a binding deal on Sunday to buy ailing Swedish luxury car brand Volvo from US giant Ford for $1.8 billion.
US carmaker Ford Motor Co looks set to sign the deal to sell its Swedish Volvo unit to China's Geely on Sunday, in what would be the largest-ever purchase of a foreign automaker by a Chinese counterpart.
Geely founder Li Shufu, China's Henry Ford, looks set to rewrite the automotive history books this weekend with the purchase of Ford's Volvo car unit, which would be China's largest offshore auto deal.
Timeline: China carmakers eye global brands
A local court in Jinhua, Zhejiang province began to hear a lawsuit between Volvo Auto Sales (Shanghai) Co Ltd and a Zhejiang auto service company yesterday, the Oriental Morning Post reported today.
Chery Auto, one of China's major non-State automakers, had its 2 millionth car roll off the line Friday morning. It was the nation's first self-owned auto brand with output hitting the 2-million mark.
China Petroleum & Chemical Corp (Sinopec) extricated itself from the Daimler bribery case, saying the employee involved in the case had been sentenced to prison years ago, the Beijing Times reported Friday, citing a company spokesman. Daimler Benz accused of bribery in China
