Coordinated by the country’s top economic planner, 10 Chinese automakers will join hands to develop automatic transmissions, especially the double-clutch transmissions (DCT), with America’s BorgWarner Transmission Systems, in an effort to reduce the import of these auto parts, said xinhuanet.com today.
This multi-party joint venture, named “China United Development Industry Co. Ltd.” and organized by [...]
Chinese carmaker Chery Automobile has recently signed a memorandum of understanding (MOU) with Structural Composites Industries LLC (SCI) of the U.S. for cooperation in the OEM project of developing new-energy vehicles, reported Shihua Financial Information today. The two sides have also discussed the application of CNG (compressed natural gas) as vehicle fuel.
Tags: Auto, Chery
Guangzhou Automotive Industry Corp is considering delisting its red-chip unit Denway Motors<203> through a share buyback after it launches a dual IPO in Hong Kong and Shanghai by early November, according to a report.
The buyback is in line with Guangzhou municipal government’s call for consolidating the auto industry. Guangzhou Auto has 37.9% interest in the [...]
Chery Automobile Co is preparing to go public before the end of this year at the latest, company Chairman said, according to the Economic Observer newspaper.
“We have had our IPO date postponed repeatedly amid share market gloom, but it will be come no later than the year-end,” Yin Tongyao said.
Tags: Auto, Chery, engine
Chery Automobile Co yesterday disputed a lawsuit by US vehicle firm Visionary Vehicles which accused the Chinese automaker of defrauding after the two companies failed in a deal to export Chinese cars to the US.
“We have noticed the news report on the lawsuit but have not yet got any formal information from Malcolm Bricklin, Visionary [...]
Chery Automobile Co Ltd has denied accusations by its former partner Visionary Vehicles LLC that it has reneged on contracts.
“We have not received any information regarding the entrepreneur Bricklin and his Visionary Vehicle LLC from the Detroit Federal Court,” Jin Yibo, the deputy general manager of Chery Automobile Sales Co Ltd, said yesterday.
Tags: car-maker, Chery, [...]
