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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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Shaping change: ZF sees more supplier mega mergers as autonomous driving race heats up

FRIEDRICHSHAFEN, Germany – The fast changing auto industry has ushered in a series of mega deals in the form of mergers, equity investments and outright takeovers over recent months, as major players both inside and outside of it vie for supremacy in the race toward connected, autonomous, shared and electrified

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MAS@Shanghai 0216 recap: Like marriages, cross-border M&As also need careful nurturing

SHANGHAI – Regardless of how difficult and complicated cross-border mergers and acquisitions, it is still the most efficient and cost effective way for Chinese enterprises to expand globally. They are like marriages that need careful nurturing. At CBU/CAR’s Monthly Automotive Salon (MAS) held on February 16 in Shanghai discussing China’s

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Chengshan Group to acquire Cooper’s stake in Cooper Chengsha

RONGCHENG, Shandong – Chengshan Group Co., Ltd. (Chengshan) declared on October 8 that it will acquire Cooper’s 65 percent ownership stake in Cooper Chengshan (Shandong) Tire Co., Ltd. (CCT) for $250 million, according to a company news release. Cooper is currently reviewing the notice and documentation provided by Chengshan to

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China’s largest auto parts company makes last-minute Fisker bid

China's largest auto parts company made a surprise bid for Fisker Automotive just days before the bankrupt maker of the Karma plug-in hybrid sports car was to be sold to a Hong Kong tycoon, according to court documents. Fisker creditors asked the U.S. Bankruptcy Court in Wilmington,

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OEM consolidation unlikely in next decade

BEIJING – Mergers and acquisitions among Chinese OEMs will be unlikely in the next decade, according to several speakers at CBU/CAR’s 2012 Global Automotive Symposium© (GAS 2012) held in Beijing in April. “The market is still growing rapidly and everyone can still get a cut of the market share, whether

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Sinotruk cooperates with Wangpai for wider product lines

CHENGDU, Sichuan - China National Heavy-Duty Truck Group Corp. (Sinotruk) and Chengdu Wangpai Motor Group Co., Ltd. (Wangpai) signed an agreement on August 23 to set up a new commercial vehicle company, Sinotruk Chengdu Wangpai Commercial Vehicle Co., Ltd. (tentative name), in Chengdu. Ma Chunji, chairman of Sinotruk, Cai Dong,

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