SAIC Motor Corp. said that a Hong Kong-based subsidiary had acquired a nearly 1 percent stake in General Motors Co. as part of the U.S. automaker's initial public offering, reports said. The company paid the $33 per share IPO price for 15.15 million shares, or about $500 million, the reports said.
Nov. 19 , 2010Shanghai November 19 (Gasgoo.com) Following its great success with commercial vehicles worldwide, Beiqi Foton Motor Co., Ltd. now plans to branch into the sedan segment, aiming to launch its first model in 2013, bitauto.com reported Friday, citing Foton brand director Zhang Bin.
Nov. 19 , 2010Shanghai November 18 (Gasgoo.com) One week after signing the memorandum of understanding (MOU) to establish a 50-50 joint venture in China, Guangzhou Automobile Group and Mitsubishi Motors Corporation already made plans to set up the new joint venture in June 2011 and start production of new models in July 2012, the Beijing Times reported Thursday, citing a Mitsubishi insider.
Nov. 18 , 2010