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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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Yao Zhenhua’s dream: Baoneng Group looks to expand into the auto industry with Qoros stake

SHENZHEN – Yao Zhenhua, as chairman of Baoneng Group, aims to set up a whole industry chain through Baoneng Group being one of the three shareholders of Qoros Automobile Co., Ltd., which can provide a strong support for Yao’s business. Under the background of China’s strict financial risk control, the

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Baoneng Group confirmed as new strategic investor of Qoros

SINGAPORE – China’s Baoneng Group, a modern conglomerate with businesses covering property development, science & technology parks, modern logistics, comprehensive finance and medical health, has been confirmed as the new strategic investor for Qoros Automobile Co., Ltd. Kenon Holdings Ltd., whose wholly-owned subsidiary Quantum 2007 LLC owns 50 percent of

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30 million units, severe overcapacity, yet still lucrative to invest

China’s light vehicle sales are expected to surpass 30 million units in 2020, according to a forecast released by industry consultancy IHS Markit on April 5. If realized, that volume, which includes passenger cars, SUVs, MPVs, microvans, light vans, light trucks and pickups, would be almost twice what was sold

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Chery to launch T17 SUV in ’17, eyes European and U.S. markets with “Lander Plan”

BEIJING – Chery Automobile Co., Ltd. plans to launch an all-new SUV model codenamed T17 this year and initiate what it calls a “Lander Plan” later in the year aimed at entering the European and U.S. markets, according to Jin Yibo, assistant to the president of the company. Jin announced

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