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Ford is close to selling its Volvo unit to China's Geely Group and expects a final deal early next year, the US auto giant said in a statement.
Light commercial vehicle maker Beijing Automotive Industry Holding Corp (BAIC) yesterday said it would invest 33 billion yuan over the next three years for vehicle research and development (R&D) and also hinted that it may launch an initial public offering soon.
China will charge a 7.5-percent sales tax on vehicles with engines of up to 1.6 liters or less, effective from January 1 to the end of 2010, the Ministry of Finance said in a statement on its website Wednesday.
General Motors (GM), the largest foreign automaker in China, is considering purchasing an additional 10.9 percent stake in the nation's mini-commercial vehicle sales leader, SAIC-GM-Wuling, said an executive at its Chinese partner Shanghai Automotive Industry Corp (Group), or SAIC.
Power systems provider Rolls-Royce said nuclear power and natural gas are two major growth opportunities for its energy business in China, as demand is driven by economic growth and a national focus on using cleaner energy.
As world leaders gathered in Copenhagen to discuss a new pact to slow climate change, an innovative and simple idea has been raised to lessen greenhouse gas emissions - renting, instead of owning, a car.
China's auto market has experienced a surge in 2009 because of the government's stimulus measures to boost domestic demand. Sales of most auto manufacturers hit new high.
Audi AG sold nearly 140,000 cars on the Chinese mainland in the first 11 months this year, up 29 percent year-on-year, the company announced at its centennial celebration ceremony in Beijing Tuesday.
Due to robust sales in the world's most populous country, Mercedes-Benz expects China to unseat the United Kingdom (UK) as the company's third-largest passenger car market in the world in 2010.
Magotan, the flagship vehicle from FAW-Volkswagen, has seen sales grow steadily every month since April in the most competitive car segment in China.
Full-year sales by Dongfeng Motor Co Ltd, the joint venture between Japanese carmaker Nissan Motor Co and its Chinese partner Dongfeng Motor Corp, are expected to surge 28 percent year-on-year to 905,000 vehicles, according to a recent statement from the company.
Beijing has registered 4,001,426 vehicles and 5,679,000 drivers, the publicity office of the municipal government said Friday.
