BAIC to mass produce all-electric vehicles next year
Shanghai November 29 (Gasgoo.com) Beijing Automobile Group Co., Ltd. (BAIC Group) will begin mass-production of all-electric vehicles in 2011 and will roll out 30 units of the C60 electric cars this year, the Beijing News reported Monday.
BAIC, the Chinese partner of Daimler AG and Hyundai Motor Corp, also plans to put into operation a production base with annual capacity of 40,000 new energy vehicles in the second quarter of next year.
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Fiat to launch diesel engine project in Chongqing
Shanghai November 29 (Gasgoo.com) Italian automaker Fiat has signed November 25 an agreement with Chongqing Xiaokang Auto Industry Group Co.,Ltd. to launch the Fiat diesel engine project in Liang Jiang Xin Qu of Chongqing Municipal, southwest of China's biggest industrial and commercial center, local media reported Monday.
The aim of the project is to produce environmentally friendly diesel engines which have impressive fuel consumption of around 5.5 liters per 100 kilometers and could be 40% more fuel-efficient than the ordinary gasoline engines.
China's Pacific Century Motors acquires GM's Nexteer for $420 mln
Shanghai November 30 (Gasgoo.com) Beijing Pacific Century Automotive Systems Co., Ltd. ("Pacific Century") announced in Detroit that it has officially acquired auto parts supplier Nexteer Automotive from General Motors Co. for $420 million, the largest Chinese investment in the global auto supplier industry ever, Chinanews.com reported Tuesday.
The deal, effective November 30, includes the Nexteer's steering and halfshaft operations, 22 manufacturing plants, six engineering sites and 14 customer support centers in North and South America, Europe and Asia.
Mazda mulling China production of more models
Shanghai November 30 (Gasgoo.com) Mazda Motor Co is mulling production of some of its models in China in a bid to enrich its product line-up, the Beijing News reported Tuesday, citing Takashi Yamanouchi, president and CEO of Mazda (China) Enterprise Management Co Ltd.
After Ford Motor Co announced earlier this month it will cut its stake in Mazda to 3.5% from 11%, the Japanese automaker's two Chinese partners-FAW Car and Changan Auto have also made some moves.
BYD F3 goes into volume production in Russia
Shanghai December 1 (Gasgoo.com) BYD's F3 compact car has gone into volume production at Russian automaker Taganrog's plant early last month, with a planned output of 10,000 units for 2010, Kommersant reported.
Taganrog has recently signed a contract worth $3.6 million with BYD, a Chinese carmaker backed by US billionaire Warren Buffett, for manufacturing the F3 cars. Volume production was scheduled to start this summer, with 10,000 units expected to roll off the assembly line before the end of this year, Taganrog said.
China's premium car market to maintain 30% growth rate in 2011
Shanghai December 1 (Gasgoo.com) "China's premium car market will maintain a growth rate of around 30% in 2011, while its entire automotive market will enjoy a lower growth rate," said Zhang Xiaojun, executive vice-president of FAW-VW Audi Sales Division.
auto.ynet.com reported Wednesday.
FAW-VW, a passenger-car joint venture between First Automobile Works (FAW) and Germany' largest automaker Volkswagen AG, has launched the new Audi TT and TTS models in the domestic market in the wake of the Audi A3 as competition in the high-end vehicle segment has become extremely fierce.
Audi A7 Sportback to hit Chinese market next September
Shanghai December 2 (Gasgoo.com) The Audi A7 Sportback will officially enter the Chinese market in 2011 along with the new Audi A8, Dominique Boesch, general manager of the Audi Sales Division at FAW-Volkswagen Automotive Co Ltd, told the Beijing Times Saturday.
The A7 Sportback reportedly is the production version of the 2009 Sportback Concept, unveiled at the 2009 Detroit International Auto Show. The car was initially released at the Munich Auto Show in July, and went on sale in Europe from September.
China's auto rental sector picking up as foreign investment grows
Shanghai December 2 (Gasgoo.com) China's auto rental sector-a market seen as one with great potential and risks-has recently attracted considerable interest from foreign investors: Mitsubishi Corp, Japan's largest trading company signed November 18 an agreement to invest $20 million in a joint venture car rental firm with Zhejiang Cheeyo Auto Rental.
Prior to this, a consortium headed by Goldman Sachs Group Inc. injected $70 million into Shanghai-based eHi Car Rental Ltd; Legend Holdings injected 1.2 billion yuan in cash in China Auto Rental to acquire more than 50% stake in the car rental service provider.
Hyundai Azera/HG to hit China market in first half 2011
Shanghai December 3 (Gasgoo.com) Hyundai Motor will import its latest Azera/Grandeur (codenamed "HG") and FS to China in 2011 along with two facelift models Hyundai Equus Stretch Edition and Hyundai Rohens couple 3.0L, auto.qq.com reported, citing head of Hyundai China sales division.
The South Korean automaker has decided to introduce the new Azera to the world's largest auto market in the first half of next year, and will import the Hyundai Sonata Hybrid in 2012, the same source revealed on December 1, when Hyundai launched its all-new MPV H-1 with a price tag between 209,500 yuan and 248,000 yuan ($31,000-$37,000).
Geely aims to boost annual sales to 2 million units by 2015
Shanghai December 3 (Gasgoo.com) Zhejiang Geely Holding Group Co., Volvo Cars' new owner, aims to boost annual sales to two million vehicles by 2015 and meanwhile to double its current market share to 5.8%, auto.ifeng.com reported Friday, citing Liu Jinliang, the group's vice president for sales and marketing.
Geely has clarified its multiple brands into three: Emgrand, Gleagle and Englon based on different customer segments, namely small-sized cars could bear the badge of Emgrand that is designed to embody luxury, steady and power as a mid-to-high end brand. Likewise, there could also be mid- and high-end cars under the Englon brand, Liu said.
