FAW Ltd Co earned 1.3 billion yuan in net profits from soaring car sales in the first half of the year, according to its semi-annual report released Wednesday.
China's Changan Auto plans to invest 8.5 billion yuan ($1.25 billion) to build an auto plant in Shenzhen, the costal city in China’s Guangdong province, the China Business News reported on Thursday.
China's leading auto maker Geely announced Wednesday that the company earned 805 million yuan (about $118 million) in the first half of 2010 for its shareholders, up 35 percent year-on-year.
China is reviewing three national standards for electric vehicle power batteries, a Chinese researcher said Wednesday at a forum in Beijing.
China will issue three standards in October to regulate charging facilities for electric cars, the Shanghai Securities News reported Monday, citing an unnamed source from the State Electricity Regulatory Commission.
Average driving speeds in the Chinese capital will likely drop below 15 km per hour in five years if the number of vehicles continues increasing while no further measures are taken, said a Beijing transport official here on Monday.
The gross output of China's auto industry surged 49 percent year-on-year to 2.09 trillion yuan ($308 billion) in the first half of the year, officials at the Ministry of Industry and Information Technology (MIIT) said Monday.
US automaker General Motors Co confirmed on Friday that the company would complete the final closure of its Hummer brand by the end of August, ending the vehicle's 18 years of civil commercial use, sina.com reported.
First half net income of BYD Co, the Chinese automaker backed by Warren Buffett, more than doubled to 2.42 billion yuan, or 1.06 yuan a share, from 1.18 billion yuan, or 0.57 yuan, a year earlier, the company said in a statement to the Hong Kong stock exchange yesterday.
Last month's sales of light vehicles increased over July 2009, but there are abundant signs that China's red-hot auto market is slowing.
The city is planning to bring in strict new penalties in a bid to stop cars taking over bike lanes.
The first international luxury brand to produce cars in China - it assembled 499 autos in 1988 - Germany's Audi AG now plans to more than double its lineup over the next five years as demand in the premium segment continues to surge.
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