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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 maker CATL purchases 22 percent stake in Finnish car supplier Valmet Automotive

HELSINKI, Finland – Chinese battery maker Contemporary Amperex Technology Limited (CATL) has bought a 22 percent stake in Finnish auto supplier Valmet Automotive to expand in the European electric car market, according to a company news release. CATL is looking to be listed on Beijing’s exchange and plans to build

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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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Dongfeng-PSA tie-up a major milestone

Dongfeng Motor Group’s €800 million ($1.1 billion) investment in PSA Peugeot Citroën for a 14 percent stake is a giant step forward for China’s second largest automaker. It is also a major milestone in the development of China’s auto industry and will likely shakeup the future landscape of the global

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Chang’an to sell 50 percent stake in PSA JV to listed unit

CHONGQING – China Chang’an Automobile Group (Chang’an) is to sell its 50 percent stake in Chang’an PSA Automobile Co., Ltd. (CAPSA), a joint venture with PSA Peugeot Citroën, to its listed unit, Chang’an Automobile Corp., for ¥2 billion ($321 million), according to a notice published by the Chongqing United Assets

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