The parent of China’s Geely Automobile has secured financing to buy Ford-owned Volvo cars for about 15 billion Swedish crowns ($2.10 billion), a Swedish business daily reported on Wednesday.
Dagens Industri, citing sources, said that Chinese financial institutions and regional government bodies had provided the money for Geely to complete its purchase.
The paper quoted its source [...]
The details of a plan to subsidize private purchases of electronic motor cars will be released after the “two conferences,” Miao Wei, vice-minister of Industry and Information Technology and deputy to the National People’s Congress disclosed on Saturday, the Beijing Youth Daily reported.
In the near future, Beijing residents will have the chance to purchase electronic [...]
The proportion of home grown brands may make up at least 50 percent of new purchases of government-owned cars, as required by a draft plan on procurement of official cars, Jinan Daily reported Friday.
The plan will also change the guidelines for vehicles to be purchased, basically excluding most brands made by joint ventures, the newspaper [...]
China’s largest clean diesel motor plant has gone into production in Inner Mongolia. It marks a giant step forward, for China’s auto parts industry.
The new plant is a subsidiary of Haw Tai Automobile. It will manufacture diesel motors, complying with euro five emission standards. It’s China’s first clean diesel engine for autos. And could reduce [...]
Shen Lu just bought herself a red Mazda 3 as a new year present.
“It looks beautiful and has large space. I bought it to replace my old car, a small Chery QQ,” said the 27-year-old IT practitioner.
“Cars with displacement of 1.6 liters, like the Mazda 3, are cheaper with reduced purchase tax,” she added.
Shen’s Mazda [...]
French auto maker PSA Peugeot Citroen will recall combined 263 autos of three models sold to the Chinese mainland due to defective radio, China’s product quality watchdog has announced.
The 263 autos included two of 307 CC produced between July 21 of 2006 to March 19 of 2007, 215 of C4 coupe manufactured between July 29 [...]
