Toyota Motor Corp founded its first wholly owned R&D unit in China on Nov 17 to strengthen its localization in the country.
General Motors said on Thursday it was happy with China's SAIC Motor Corp's decision to participate in its public offering.
China's largest automaker SAIC Motor Corp said that it acquired an 0.97 percent stake in General Motors for almost $500 million through the US company's IPO on Thursday. GM says happy with SAIC's participation in its IPO
Toyota will invest nearly $700 million in its first fully-fledged research and development (R&D) base in China, AFP reported on Thursday.
In 2000, when he was 26 years old, Li Bin founded BitAuto Holdings Ltd to provide Internet content and marketing services for the automobile industry in China.
As Chinese automakers are keen to develop their brands and expand overseas, Dong Yang, secretary-general of China Association of Automobile Manufacturers, shares his views.
One of the major State automakers in China is investing 10 billion yuan ($1.5 billion) in Beijing over the next three years.
China's SAIC Motor Corp Ltd has agreed to take a stake in General Motors Co, four people familiar with the matter said. But the deal still needs the approval of the Chinese government.
China's vehicle sales increased 25.5 percent in October compared to the same month last year, pushing the 10-month tally beyond the full-year figure for 2009.
Moving to improve its weak presence in China's auto market, Mitsubishi Motors Corp recently signed a memorandum of understanding with Guangzhou Automobile Group Co (GAC) to form a new 50-50 partnership.
China's Geely Automobile Holdings Ltd should reach its 2010 sales target, but expects growth in the broader market to moderate next year, its executive director said.
General Motors Co will launch its new Baojun brand cars this month to capture growth at the low-end of the Chinese market, competing with domestic makers such as Geely, Chery and BYD, said its China chief on Thursday.
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