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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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Gong Yueqiong appointed board director and president of Foton Motor

BEIJING – Beiqi-Foton Motor Co., Ltd. (Foton Motor) announced in a statement on November 3 that Gong Yueqiong, former deputy Party secretary, vice president, CFO and CEO of Commercial Vehicle Group at Foton Motor, has been appointed the new board director and president of the company. Gong succeeds Wang Jinyu,

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Daimler to take minority share in BJEV in new framework agreement with BAIC

BERLIN – Daimler intends to acquire a minority stake in Beijing Electric Vehicle Co., Ltd. (BJEV), a subsidiary of partner BAIC Group, with the purpose of strengthening strategic collaboration with BAIC in China’s new energy vehicle sector. The move is one of the two significant investments Daimler plans to make

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The old and new must integrate for China to become an automotive powerhouse

BEIJING – When the new meets the old, fireworks fly. That’s what happened at one of the sessions held at the 9th China Automobile Bluebook Forum organized by Automotive Business Review (ABR) on May 5-6 in Beijing. At a panel discussion pitting William Li, founder and chairman of Nio (NextEV),

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BAIC Mobility Co., Ltd. established

BEIJING – BAIC Mobility Co., Ltd., a global mobility service platform under BAIC Group, was inaugurated here on April 8. The newly established company has a registered capital of ¥1.5 billion ($218 million ), in which BAIC Group holds 51 percent of the equity share, Zhuhai Xiexin New Energy Development

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Ouyang Minggao: NEV technology can be promoted widely now

A dozen government officials and corporate executives discussed China’s NEV sales in 2015 and future development trends at China EV 100 Forum 2016 held on January 23-24 in Beijing. Following are highlights of the event. – Editor   China’s annual NEV sales accounted for over 1 percent of total automobile

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BAIC and Didi Kuaidi team up for smart technologies

BEIJING – Didi Kuaidi Co., a merger of China’s two most popular taxi-hailing applications, said on June 4 that it will collaborate with BAIC Group on smart technologies and new energy vehicles, reported Shanghai Daily. Under the agreement, the two parties will begin profound cooperation in autonomous driving, new energy vehicles,

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Leshi’s super bet to disrupt the industry

The blockbuster news of this week, and maybe of this year, is the announcement by Chinese Internet company Leshi to build electric cars. Jia Yueting, the billionaire founder and CEO of letv.com tweeted on Sina Weibo on December 9 that Leshi plans to build a smart electric vehicle dubbed the

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