Saab Automobile has agreed for China Youngman Automobile Group Co Ltd to take an equity stake in the company as part of a distribution and manufacturing joint venture in China aimed at rescuing the ailing Swedish carmaker.
More than 200 new vehicles will be displayed at 2011 Beijing import auto expo which is scheduled to be held from Oct 31 to Nov 6, organizer has said.
China's quality watchdog said Friday that SAIC-GM-Wuling Automobile Co began on Wednesday to recall 22,457 vehicles in China to fix problems that could pose safety risks.
China's new-energy vehicle production capacity is expected to hit around 300,000 units by 2012.
China's auto sales and output in May continued the downward trend in April, the China Association of Automobile Manufacturers (CAAM) said Thursday.
Volvo began recalling 2,337 vehicles in China on Wednesday to fix problems that could pose safety risks, China's quality watchdog said.
General Motors Co (GM), the biggest overseas automaker in China, said it intends to exercise an option to buy back a 1 percent stake in its main car venture in the country to make it an equally held unit with its partner.
China's automobile market continued to slow down with further negative month-on-month passenger vehicle sales growth in May, sparking concern that it may have difficulty reaching its previous sales target of 20 million vehicles this year.
Chinese ministries announced Wednesday the details of the country's new cash-for-vehicles program, which will allow automobile owners to receive up to 18,000 yuan ($2,769) for scrapping their unused vehicles this year.
Ford Motor Co is aiming to expand its presence in the fast-growing auto markets of India and China with an eye toward increasing the number of vehicles it sells per year by 50 percent by the middle of the decade.
Fiat SpA, Europe's sixth-largest automaker by market share, will locally produce its gearboxes in China, as part of its plan to gain a foothold in the world's biggest automobile market.
The smell of auto tires engulfed the Dubai World Trade Center on Tuesday, when the 9th Automechanika Middle East trade show opened its doors, with more than 100 Chinese firms participating in the three-day exhibition.
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