Geely Auto and BAIC Group jointly issued a statement on May 15 denying the report about a merger talk between them, saying such report is groundless and untrue. Besides, two companies also emphasized the priority to beef up independent innovation.
May 16 , 2018
Baoneng Group reportedly plans to acquire stake of Chery Auto with a total of RMB 25-27 billion, and aims to be the biggest shareholder of the automaker.
May 16 , 2018
Shenzhen-based self-driving startup Roadstar.ai announced a $128 million Series A round financing on May 15, which was by far the biggest financing value in China's autonomous driving industry.
May 16 , 2018
Tagged as a NEV-oriented automaker which put less weight on traditional fossil-fuel powered vehicles, BYD aims to recapture the market share of the fuel-powered vehicles.
May 15 , 2018
JAC and Cummins Sales and Service Singapore Pte., Ltd. (hereinafter referred to as Cummins) signed a contract on May 14 to set up a new engine factory, which is likely to be named as JAC Cummins Engine Co., Ltd.
May 15 , 2018
BMW obtained two license plates for the ICV (intelligent-connected vehicle) road test from Shanghai municipal government on May 14, becoming the first multinational automaker that is allowed to test ICV on roads.
May 15 , 2018