For most of us, cups of coffee and cars have little in common. But Lu Zhengyao, chairman and CEO of ride-hailing company and car retailer Ucar, said last week that he will sell them in the same way, starting with German brand Borgward.
Volkswagen AG expects China, which accounts for around 40 percent of its annual sales, to play an even more important role as cars are becoming smart, electric and connected, saying the country will replace Europe as the source of its technologies.
Nissan's former chairman Carlos Ghosn was charged on Friday with breach of trust, according to the Tokyo District Court, making his release unlikely for months.
Chengdu, capital of Sichuan province, served as a major commercial hub thousands of years ago because of its silk, tea and lacquer. Today, it is embracing a greater opportunity offered by the China-proposed Belt and Road Initiative to connect to a wider world.
Chengdu, a megacity in southwestern China, is gearing up for its goal of transforming itself into a "garden city" by 2035, adding a green dimension to its latest urban development plan.
Pan-Asia PET Resin (Guangzhou) Co - one of the biggest polyethylene terephthalate, or PET, chip producers in terms of annual production volume in southern China's Guangdong province - recently marked two major breakthroughs for its $3.2 billion petrochemical and chemical fiber integrated project in Saudi Arabia.
China has set an ambitious goal for a third of new cars sold in 2020 to have connectivity and self-driving features in an effort to fuel fast-evolving changes in the automotive industry.
Borgward is likely to see a turn for the better in 2019 now that its owner Foton Motor has introduced partners to finance the manufacturing plan and help boost sales.
Audi's sales hit a record high of 660,888 last year in China, holding its continued position as the best-selling premium car brand in the country, according to its joint venture FAW-Volkswagen.
Despite China's auto industry facing a tough time last year, the used car sector performed well and is expected to sell 14 million units for 2018, which would mean record highs for three straight years.
China's leading electric vehicle maker BYD is planning to found an independent company to run its battery business, which aims to grasp a larger market share in the battery industry at a predicted time of soaring demand for new energy vehicles.
CHICAGO - Major carmakers on Thursday announced slowing 2018 sales in the United States even though the industry maintained close to its total from 2017, defying expectations.
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