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Nonsense or no nonsense, new round of consolidation not surprising as industry opens wider

“Nonsense!” That was exactly the same response from both Xu Heyi, chairman of Beijing Automotive Industry Group Corp. (BAIC Group) and Yin Tongyue, chairman of Chery Automobile Co., Ltd. over rumors that huge acquisition deals are coming regarding their companies. Xu’s response to the media came on May 15 over reports that

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Chinese battery giant CATL’s $2 billion IPO approved

BEIJING – The China Securities Regulatory Commission (CSRC) has approved the $1.97 billion IPO application of Chinese lithium battery producer Contemporary Amperex Technology Co., Ltd. (CATL), according to a Xinhua news agency report on April 5. The Chinese securities regulator greenlighted the application at a meeting on April 4, according

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Daimler gets NDRC approval for minority stake in BJEV

BEIJING – Daimler AG has received approval from the National Development and Reform Commission (NDRC) for its planned minority interest in Beijing Electric Vehicle Co., Ltd. (BJEV), the EV subsidiary under Chinese partner BAIC Group, according to a notice posted on the website of NDRC on February 7. The official response

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Geely’s “Mercedes” dream and Great Wall’s “MINI” love

The Chinese Lunar New Year of the Dog started out with a bang for the Chinese auto industry. And that is a gross understatement considering that two blockbuster news events happened on the same day on February 23, the eighth day into the New Year and second day back to work

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BAIC and Daimler to invest £¤11.9 billion to expand capacity at BBAC for EQ production

BEIJING – BAIC Motor Co., Ltd., the Hong Kong-listed subsidiary of BAIC Group, said in a statement on February 23 that it and partner Daimler AG plan to co-invest more than ¥11.9 billion (about €1.5 billion) to build a new production base at their joint venture, Beijing Benz Automotive Co.,

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Daimler strengthens truck business in China with new executive appointments for DTBC and BFDA

BEIJING – Daimler said in a statement on December 5 that it is strengthening the focus of its truck organization in China by appointing two new senior executives at Daimler Trucks and Buses China (DTBC) and heavy-duty truck joint venture Beijing Foton Daimler Automotive (BFDA). Effective January 1, 2018, Sven

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