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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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Audi and FAW sign MOUs to create new sales and mobility services companies in China

GENEVA – Audi’s planned two-partner strategy in China took another step forward on March 7 when it and partner FAW Group signed memoranda of understanding here on the sidelines of the Geneva Motor Show for the creation of two new companies for sales as well as mobility and digital services. The

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SAIC Capital’s partnership with Plug and Play to speed up efforts to find new industry disruptors

SUNNYVALE, California – SAIC Capital, the venture arm of SAIC Motor, China’s largest automaker by sales, announced on December 7 a strategic partnership with Plug and Play, a global startup ecosystem and venture fund specializing in the development of early-to-growth stage technology startups in 13 verticals. SAIC Capital will be

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Magna CEO Don Walker: e-drive systems JV with HASCO a “good fit”

SHANGHAI – Magna International CEO Don Walker said the new electric drive systems joint venture it just formed with China’s Huayu Automotive Systems Co., Ltd. (HASCO), a subsidiary of China’s largest automaker SAIC Motor Corp., was simply the result of a “good fit” between the two companies. “HASCO is a

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SAIC Motor Zhengzhou base begins production of the Roewe RX3

ZHENGZHOU, Henan – SAIC Motor’s Zhengzhou passenger vehicle production base officially went into production on September 27 and the first Roewe RX3 internet SUV went off the assembly line. The RX3, which sits below the RX5, will be equipped with Alibaba’s “Internet 2.0” telematics system and officially hit the market

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Ouch! Audi feels the pain in China as it gambles on two-partner strategy gain

Tumbling sales, unhappy and hostile Chinese dealers, a Chinese map gaffe and agitated senior executives. Just about anything that can go wrong is going wrong all of a sudden for Audi in China, where it has enjoyed being the market leader in luxury vehicles ever since it entered the country

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