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Beijing Auto may seek tie-up with Soueast Auto
Shanghai. January 25 (Gasgoo.com) - Following the merge of SAIC and Nanjing Auto last month, Beijing Automotive Industry Holding Co. (BAIC) is reportedly seeking a tie-up with an automaker in China's southeastern province of Fujian, Chinese newspaper Beijing Times said.
BAIC has made a few rounds of negotiations with Fujian-based Soueast Automotive but no details has been revealed, the newspaper said, citing an unnamed company source.
BAIC chairman Xu Heyi confirmed Wednesday that his company plans to merge with another Chinese automaker. He confirmed that a final decision will be reached by the end of this year, but did not elaborate.
Separately, China's third-largest car maker Dongfeng Motor Group Co is in talks to acquire smaller domestic competitor Hafei Automobile Group. Unlike Beijing Auto and Soueast Auto, Dongfeng has already launched a due diligence investigation on the mini-vehicle maker Hafei, according to an anonymous source yesterday.
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