China will be the major investment destination for French tiremaker Michelin SA in the next three years, with plans of expanding production and enhancing research and development (R&D) capabilities, said the company's top executive.
Struggling since the onset of the global financial crisis in 2008, some famed Italian motorcycle makers are now courting Chinese buyers, an Italian trade official said.
China's vehicle market has been racing ahead and creating history over the past two years, but the juggernaut stalled in April.
Inspired by blistering growth in sales over last year, British high-luxury carmaker Bentley Motors Ltd now anticipates China will become its biggest market worldwide.
BAIC will begin mass production for China's new energy vehicles in July, according to an official with BAIC Group Friday during the 14th China Beijing International High-tech Expo.
China's quality control authorities on Friday said Jaguar Cars Ltd, a British luxury car manufacturer, would recall 1,552 XK and XF cars sold on the Chinese mainland due to steering flaws.
China's growth prospects, combined with Western companies' fears of being shut out of the world's largest auto market, are leading to a shift in attitude toward Chinese rivals buying into Europe's auto sector.
New rules governing the recall of cars will be released this year allowing manufacturers to recall vehicle components, the Shanghai Securities News reported Thursday quoting Liu Pingjun, vice director of China's General Administration of Quality Supervision, Inspection and Quarantine.
Continental AG, the world's fourth-largest tire maker by market share, opened its first tire manufacturing plant in Hefei city in Anhui province on Wednesday, to meet rising demand from the world's largest automobile market.
Dongfeng Peugeot Citroen Automobile Company Ltd started building its third assembly plant in China on Wednesday in central Hubei province in a bid to meet rising demand in the world's largest auto market.
Demand for car rental services rose strongly during China's three-day Labor Day holiday, indicating great potential for leasing in the world's second-largest economy. However, experts are calling for an improved legal framework to better govern the booming sector.
Spyker Cars NV, the Dutch supercar maker, said China's Pangda Automobile Trade Co agreed to invest in the company, four days after a deal with Hawtai Motor Group collapsed.
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