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Jun 8, 2011

SAIC May sales up 5.4 pct, slowest month this year

BEIJING, June 8 (Reuters) – Top Chinese automaker SAIC Motor
Corp said on Wednesday its vehicle sales in May
climbed 5.4 percent from a year earlier, the slowest monthly
gain so far this year amid a slowdown in the world’s largest
auto market.

SAIC, which operates auto ventures with General Motors
and Volkswagen AG , sold 304,423 vehicles last
month, up from 288,928 units a year earlier, it said in a stock
exchange filing.

Jun 3, 2011

Analysis: Saab-Pangda deal faces sobering regulatory test

BEIJING (Reuters) – A well-heeled but little-known Chinese company has once again come to the rescue of a fading foreign auto brand: This time Pangda, a mainland auto dealer, has signed a 110 million euro ($157 million) pact with Dutch firm Spyker (SPYKR.AS: Quote, Profile, Research, Stock Buzz) to keep its Saab brand on life-support.

But now that the ink is dry and the champagne put away, the two sides face the sobering reality of one remaining, but knotty issue — winning the blessing of the Chinese government.

May 24, 2011

Fuji Heavy, Chery agree on China Subaru deal -sources

BEIJING, May 24 (Reuters) – Fuji Heavy Industries
has agreed in principle to make Subaru vehicles in northeastern
China with Chery Automobile, the country’s largest independent
automaker, two people with knowledge of deal said on Tuesday,
marking the latest foreign manufacturing tie-up in the world’s
biggest auto market.

The Chery deal, if it goes ahead, would give the Japanese
automaker a foothold in China, joining the ranks of General
Motors and Volkswagen , which had already carved
up a major chunk of market where vehicle sales had topped 18
million in 2010.

May 12, 2011

Spyker hit by breakdown of Saab’s Chinese rescue

AMSTERDAM/BEIJING (Reuters) – A rescue deal for Saab involving China’s Hawtai Motor Group collapsed on Thursday, leaving owner Spyker chasing new funding alternatives to restart production at the Swedish carmaker.

Spyker said it was continuing talks with Hawtai, while a source told Reuters that another Chinese company, sports utility vehicle maker Great Wall Motor, was also talking to the Dutch company about a possible tie-up.

May 12, 2011

Great Wall Motor talks with Spyker about tie-up – source

BEIJING (Reuters) – Top Chinese sport utility vehicle maker Great Wall Motor(2333.HK: Quote, Profile, Research) is continuing to talk with Dutch luxury car maker Spyker Cars(SPYKR.AS: Quote, Profile, Research) about a potential tie-up, a source told Reuters on Thursday.

“The two sides have never stopped talking and have been in touch with each other despite the Hawtai/Spyker deal,” the source, a person with direct knowledge of the discussions, told Reuters.

May 12, 2011

Exclusive: Great Wall Motor talks with Spyker about tie-up

BEIJING (Reuters) – Top Chinese sport utility vehicle maker Great Wall Motor (2333.HK: Quote, Profile, Research, Stock Buzz) is continuing to talk with Dutch luxury car maker Spyker Cars (SPYKR.AS: Quote, Profile, Research, Stock Buzz) about a potential tie-up, a source told Reuters on Thursday.

“The two sides have never stopped talking and have been in touch with each other despite the Hawtai/Spyker deal,” the source, a person with direct knowledge of the discussions, told Reuters.

May 10, 2011

First Solar, CPINE to cooperate on solar projects in China, U.S.

BEIJING, May 10 (Reuters) – First Solar, Inc , and
China Power International New Energy Holding Ltd (CPINE), a
wholly owned subsidiary of China Power New Energy Development Co
Ltd (CPNE) , have agreed to collaborate on solar
photovoltaic projects in China, the United States and other
international markets, the two companies said in a statement on
Tuesday.

First Solar and CPINE will initially explore collaboration
on solar photovoltaic projects in China, and will identify
investment opportunities for CPINE in the United States and
other global markets.

May 10, 2011

China April car sales up 2.8 pct, seen weak in summer

BEIJING, May 10 (Reuters) – Car sales in China rose
2.8 percent in April, marking the third consecutive
month of single-digit growth as the world’s largest auto market
cools after years of frantic expansion.

The subdued growth pattern is expected to extend into the
summer months, but the market may stir again in autumn, the peak
auto-selling season.

Mar 29, 2011

Air China H2 net jumps on air travel, oil seen as risk

BEIJING (Reuters) – Air China Ltd (601111.SS: Quote, Profile, Research, Stock Buzz) (0753.HK: Quote, Profile, Research, Stock Buzz) posted a more than three-fold rise in second half earnings on Tuesday thanks to brisk air travel in the world’s second-largest economy and a merger deal.

Leisure and business travel will stay strong this year, but high-flying Chinese carriers might have to brace for strong headwinds now that oil prices have topped $100 per barrel.

Mar 23, 2011

Parts for Toyota, Honda’s south China JVs enough till mid-April

BEIJING, March 23 (Reuters) – Toyota Motor and
Honda Motor car ventures in southern China have enough
parts inventory to sustain normal production until the middle of
next month, a senior Chinese executive said on Wednesday.

“The earthquake is having a big impact on Japanese
automakers at home. But the impact on Guangzhou Toyota and
Guangqi Honda are relatively limited as both ventures get most
of the parts supply from China,” Zeng Qinghong, president of
Guangzhou Automobile Group Co (GAC) , told analysts in
Hong Kong.