Zotye to launch sedan below $2,900
Shanghai August 23 (Gasgoo.com) Zotye Holding Group, an auto manufacturer in southeastern China's Zhejiang province, is set to launch a sedan below 20,000 yuan ($2,900) to the domestic market, Media reported Monday.
The sedan based on the Jiangnan Alto that Zotyoe acquired in 2007, which will be put on sale for merely 18,880 yuan, is the first car in China to be priced under 20,000 yuan.
(Click the title to read the full article)
Dongfeng starts $96 mln new-energy bus project in Xiangfan
Shanghai August 23 (Gasgoo.com) Dongfeng Automobile Co ., Ltd. (DFAC), a light commercial vehicle producer under Dongfeng Motor Corp, started construction of its new energy bus project in Xiangfan city, central China's Hubei province on August 18, media reported Monday.
As one of Dongfeng Motor's 16 new-energy vehicle projects, the production base in Xiangfan will cost the automaker a total investment of 650 million yuan ($95.7) and be put into operation in 2012.
China's Lifan set to sell cars in Brazil
Shanghai August 24 (Gasgoo.com) The small Chinese car manufacturer Lifan Motors is likely to enter the Brazilian market in September through its local car dealers who expect to sell 2,000 Lifan cars at the end of this year, Xinhua reported Tuesday.
The Chinese carmaker will promote the Lifan 320 in Brazil that is equipped with air conditioning, hydraulic steering, anti-lock braking system and so forth and will be sold for 29,800 Brazil reais ($17,600), a big rival for Volkswagen Fox 1.0L that is currently sold at a price of 42,000 Brazil reais ($23,500).
GAC rolling out self-developed Trumpche
Shanghai August 24 (Gasgoo.com) Guangzhou Automobile Group Co. (GAC) said recently that its first self-developed sedan, Trumpche (Chuanqi in Chinese, meaning "legend") will roll off the production line in September 28 and be put on sale at less than 140,000 yuan ($20,600) at the end of this year, media reported Tuesday.
The Trumpche sedan, which will be put into service during the 2010 Asian Games to be held in Guangzhou, capital of southern China's Guangdong province, is based on the platform of the Alfa Romeo 166 and measures (LxWxH) 4900mm x 1820mm x 1480mm, along with a wheelbase of 2800mm.
Foton speeds up global expansion with new energy vehicles
Shanghai August 25 (Gasgoo.com) Beiqi Foton Motor is planning to set up a production base with an annual capacity of 100,000 vehicles in Russia in 2012, and to gradually spread its wings to the entire Europe with its light-, medium- and heavy-duty trucks, big buses, big and small vans, pickups, SUVs and so forth, media reported Wednesday.
Foton Motor, China's leading producer of commercial vehicles, is scheduled to build totally five plants in Brazil, India, Russia, Mexico and Thailand before 2015. The company aims to make strong presence in Japan, South Korea, Western Europe and North America through manufacture of high-end vehicles and engines, and to achieve a rapid development in the new energy field.
Honda may produce small car TIF in China
Shanghai August 25 (Gasgoo.com) In light of a bright future in China's small-displacement car market, Honda Motor Co is now planning to launch a new small car, codenamed TIF, in China, Honda China president Seiji Kuraishi said in an interview recently.
The Honda TIF is likely to feature a 1.0L and a 1.3L engine and be priced between 60,000 yuan-80,000 yuan ($8,800-$11,700), a great rival for the newly launched Nissan March, and Chevrolet Sail.
Shanghai GM sales first break through 600,000-unit mark
Shanghai August 26 (Gasgoo.com) Shanghai GM, a joint venture between General Motors Corp and SAIC Motor Corp, registered 80,279 units in July sales, up 42% from a year earlier, with cumulative sales totaling 601,008 units in the first eight months, up 58% year-on-year, media reported Thursday.
The company is the first among the domestic automakers to break the 600,000-unit sales barrier in less than eight months this year.
BAIC may acquire Zoyte Auto next: source
Shanghai August 26 (Gasgoo.com) Beijing Automotive Industry Holdings Co (BAIC) is likely to take over the small Chinese SUV-maker, Zoyte Auto. Both sides have now entered into final negotiations, Beijing Daily reported Thursday.
BAIC plans to build five production bases in eastern, southern, western, northern and central parts of China, the company revealed during the signing ceremony to finalize buying Baolong Auto.
Without Ssangyong, SAIC Roewe SUV has to wait
Shanghai August 27 (Gasgoo.com) After Ssangyong Motor picked India's Mahindra and Mahindra as its preferred buyer, SAIC, which bought a 49% stake of Ssangyong in 2004 for $500 million, has recently sold out the rest 3.79% stake in the company, along with Ssangyong's SUV technology, while its Roewe SUV's launch has to be delayed now, cheshi.com reported Friday.
SAIC's acquisition of SsangYong Motor is based on its global development strategy, but both parties cannot keep harmonious labor relations. After buying into the South Korean SUV-maker, SAIC paid more attention to the technology transfer, so the latter estimated that it would likely be abandoned ultimately, according to early sources.
Sinotruck to build 400,000-unit commercial vehicle base
Shanghai August 27 (Gasgoo.com) China National Heavy-Duty Truck Corp (CNHTC or Sinotruck), the country's third-largest truck maker, recently signed an agreement with Chengdu Wangpai Motor Group Co., Ltd. for construction of a 400,000-unit commercial vehicle base in Chengdu, capital of Sichuan province, Shanghai Securities News reported Friday.
Under the agreement, both sides will set up a new company with a total investment of 3 billion yuan ($441 million) to develop heavy, medium, light and mini commercial vehicles and other vehicle business in China.
