China Auto Giants Emerge
2010-02-24 Source：www.chinabuses.org
www.chinabuses.org: According to the short-term plans, the central government will release several new policies in the first half of this year to encourage domestic auto manufacturers to form the international auto giants. In the year of 2009, several auto giants emerged in China.
Chana Motor Group acquired Hafei and Changhe brands. Besides that, Chana also got the engine producer Dong'an from the Aviation Industry Corporation of China. Guangzhou Automobile Group Corporation bought 29 percent stake of Changfeng Motor Co., Ltd at last year. Beijing Automobile Industry Holding Corporation got the deal with Daimler AG to bought 40 percent stake of its Fujian Motor joint venture manufacturer.
The central government hopes that China needs to set up two to three large-scale auto giants in the year of 2012 and each giant's annual production capacity should reach 2 million units at least. According to the market performance, SAIC Motor Corp, FAW Group, Dongfeng Motor and Chana Motor occupy the first four positions in China auto industry.
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