Autoblog

BREAKING: Ford says it has come to terms with Geely on Volvo sale

Chris Shunk — Wed, 23 Dec 2009 09:33:00 EST

Ford Motor Company has just announced that all major terms relating to the sale of Volvo have been settled between Ford and Zhejiang Geely Holding Group Company Limited. That doesn't mean that all the Ts have been crossed on the deal, but it does indicate that Geely has met all of Ford's terms for the sale to be complete. Ford has issued a press release stating that a definitive sale agreement will be signed in the first quarter of 2010, while the final sale won't take place until Q2.

Earlier in the month, former Volvo executives sent a letter to Ford Chairman Bill Ford, Jr. voicing their concern that Geely doesn't have the necessary resources to support Volvo. Not so, according to Ford's press release. The Blue Oval states "the prospective sale would ensure Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise." And even though Ford will likely soon be handing over the keys to Volvo to a Chinese automaker, the company still intends to work closely with the Swedish automaker post-sale. That makes sense considering the fact that all Volvo products share platforms and components with Ford-branded cars and crossovers.

The sale will also go far in achieving Ford's goal of divesting itself of its non-core assets so the Dearborn, MI-based automaker can concentrate on matters closer to the Blue Oval's heart. Follow the jump to study Ford's brief press release. Thanks to everyone for the tips!

[Source: Ford]

Continue reading BREAKING: Ford says it has come to terms with Geely on Volvo sale

BREAKING: Ford says it has come to terms with Geely on Volvo sale originally appeared on Autoblog on Wed, 23 Dec 2009 09:33:00 EST. Please see our terms for use of feeds.

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Great Wall cars headed to Europe in 2010

Jonathon Ramsey — Sun, 20 Dec 2009 12:36:00 EST

Filed under: China, Europe, UK

Great Wall Phenom Concept -- Click above for high-res image

Not to be deterred by the woes and recent fate of Brilliance -- or perhaps, having learned from it -- vehicles from Great Wall, the Chinese automaker, will be imported to Europe next year by the UK-based I.M. Group. Brilliance, you might remember, suffered a disastrous couple of crash tests that doomed the company's chances pretty much everywhere. Even after it rebounded with a much improved design, people couldn't un-see and un-remember the catastrophe that was the BS6, and the company's German importer went under.

I.M. Group already imports Subaru, Isuzu, and Daihatsu. That not only gives it some of the best experience possible in bringing Asian cars to Europe, that means it isn't solely reliant on Great Wall to be a success. As well, I.M. is starting with Eastern Europe, planning imports to Estonia, Latvia and Lithuania first, with further expansion planned for 2011.

We'll say for the record that if Great Wall builds the Phenom Concept (pictured) as is, and the car gets a good crash rating, we'd have absolutely no problem giving it a try. Even with a that grille. You can read the I.M. Group's release after the jump.

[Source: I.M. Group]

Continue reading Great Wall cars headed to Europe in 2010

Great Wall cars headed to Europe in 2010 originally appeared on Autoblog on Sun, 20 Dec 2009 12:36:00 EST. Please see our terms for use of feeds.

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REPORT: Even while pursuing Volvo, Geely again mulling bid for Saab?

Chris Shunk — Mon, 07 Dec 2009 13:58:00 EST

Filed under: Saab, Earnings/Financials, Rumormill, Geely

Just about every time an automaker decides to sell one of its brands, Chinese automaker Geely comes up as one of the potential suitors. Geely executive Lawrence Ang has reportedly told Automotive News that the reason Geely has been present at a lot of negotiating tables is because it wants to grow in part through acquisitions. And while the Chinese automaker has yet to finalize any big-ticket buys, it appears to be the front-runner for Ford's Volvo unit.

Earlier in the year, Geely looked into purchasing the Saab brand, but talks reportedly broke down after Koenigsegg presented what appeared to be the winning bid. But now that Koenigsegg has dropped out of the Saab sweepstakes, the door is open again for Geely. Is the Chinese automaker interested? Ang reportedly gave reporters at a shareholder event the ambiguous "who knows?" as an answer, but he also acknowledged that the company is investigating buying opportunities which have presented themselves during the automotive industry downturns in Europe and the States. Geely is also reportedly interested in purchasing parts and engines, which could be possible if General Motors decides to disband Saab if an adequate bid doesn't present itself by year-end.

While Geely appears to be close to purchasing Volvo and is perhaps in a good position to pick up Saab for a song, the automaker is also looking to increase its presence in its home market. Automotive News is reporting that Geely will increase spending by up to 43% in hopes of increasing sales from 300,000 in 2009 to over 400,000 next year.

[Source: Automotive News - subs req'd | Image: AFP/Getty]

REPORT: Even while pursuing Volvo, Geely again mulling bid for Saab? originally appeared on Autoblog on Mon, 07 Dec 2009 13:58:00 EST. Please see our terms for use of feeds.

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REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab?

Jonathon Ramsey — Sun, 06 Dec 2009 12:37:00 EST

Filed under: China, GM, Saab, Earnings/Financials, Koenigsegg

Beijing Automotive Industry Corporation (BAIC) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up production and putting financial and technological legs underneath its partnerships with Mercedes and Hyundai.

Or... it could be doing both: trying to buy Saab and as well as remodel its business. The deal for Saab between GM and Koenigsegg was for about $1 billion: the European Investment Bank approved a loan for $615 million, and BAIC provided about $400 million by buying a minority stake in the Koenigsegg Group. If BAIC did its own deal with GM for that same amount -- although we have a feeling they could get a Christmas discount -- that would leave nearly $2 billion for BAIC to take care of Saab and invest in its own operations.

This is, of course, pure speculation -- BAIC could have something else in mind entirely. All we know right now is that they've got a lotta yuan just sitting around waiting to be spent, and aborted plans to build the new 9-5 in China. This Saab story isn't finished yet...

[Source: Reuters]

REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab? originally appeared on Autoblog on Sun, 06 Dec 2009 12:37:00 EST. Please see our terms for use of feeds.

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REPORT: GM selling control of Chinese joint venture to SAIC, half of India operations

Chris Shunk — Fri, 04 Dec 2009 09:00:00 EST

Filed under: China, GM, Earnings/Financials

It has been a busy week at General Motors. The week started off with CEO Fritz Henderson's abrupt resignation, then executives converged on the LA Auto Show where Bob Lutz was the keynote speaker and then the U.S. market Chevy Cruze was revealed. Now, the General is reportedly deep in negotiations halfway around the world with its Chinese partner, SAIC, to sell its partnership stake in what is now the largest auto market in the world.

Here is how the deal will reportedly break down: According to Reuters, GM will give SAIC a scant one percent of its interest in the China venture and 50% of GM's India operations. In exchange, the General would receive what amounts to about 20% of the value of the China venture. Sounds like a pretty sweet deal considering the fact that GM isn't exactly a big player in the Indian market - but there is a very big downside. If GM cedes one percent of its joint venture with SAIC, then the Detroit, MI-based automaker would no longer control its China operations. The rumored deal will contain a proviso that the General can later buy back its lost percentage for a "premium price." That sounds a little like GM just got a loan from SAIC and put up one percent of its ownership as collateral.

While GM currently has over $40 billion in its cash coffers courtesy of its recent bailout and bankruptcy, The General is in a big hurry to pay back the money it owes the government. It also has to contend with what is still a very soft auto market - not to mention Opel restructuring costs that could tally $5 billion or more. But China is also a monster part of GM's business plan, so any money gained from this deal could come at an even greater cost. We have to wonder if this deal had anything to do with Mr. Henderson's abrupt exit stage left...

[Source: Reuters]

REPORT: GM selling control of Chinese joint venture to SAIC, half of India operations originally appeared on Autoblog on Fri, 04 Dec 2009 09:00:00 EST. Please see our terms for use of feeds.

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New Buick Excelle debuts in China, sedan coming to America soon

Sam Abuelsamid — Mon, 30 Nov 2009 09:29:00 EST

Filed under: Budget, China, Hatchback, Buick, Misc. Auto Shows

2011 Buick Excelle XT - Click above for high-res image gallery

Back in August, when General Motors gave the media a tour of its design studios to show off pieces of its upcoming lineup, one of the cars we saw was a compact four-door Buick sedan. That sedan was essentially a re-grilled and trunked version of the recently introduced Opel Astra, but GM did not say what badging the car would receive in North America. However, the five-door hatchback version has just debuted in China at the Guangzhou Motor Show as the newest baby Buick.

In what is Buick's largest market, the compact is badged as the Excelle, and we wouldn't be surprised to see that name come to the U.S. provided there aren't any issues with the similarly named (and defunct) Hyundai Excel. The car we saw in August was identical to the Excelle shown above from the B-pillars forward. It only differs at the rear where the hatch was originally a traditional trunk.

Unlike the last Saturn Astra (and previous attempts at smaller Buicks), the inside of the new car looks much more upscale and should be more appealing to American consumers. We'll probably only get the 181-horsepower, 1.6-liter turbo four-cylinder in the Excelle in order to set it apart from the 140-hp Chevy Cruze that shares the same platform. If our version gets the 138-hp 1.8-liter at all, it will probably be paired with the automaker's new, second-generation BAS hybrid system.

Gallery: Buick Excelle XT

[Source: General Motors]

Continue reading New Buick Excelle debuts in China, sedan coming to America soon

New Buick Excelle debuts in China, sedan coming to America soon originally appeared on Autoblog on Mon, 30 Nov 2009 09:29:00 EST. Please see our terms for use of feeds.

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REPORT: New Chinese-market Cadillac SLS and Buick Excelle XT to debut in Guangzhou

Jonathon Ramsey — Tue, 24 Nov 2009 15:59:00 EST

Filed under: Sedan, China, Buick, Cadillac, GM, Misc. Auto Shows, Luxury

General Motors' China's sales are up 60 percent year-on-year, and The General wants to keep the momentum going at its Chinese outpost. Automotive News China reports that the Guangzhou Auto Show will play host to the unveiling of the market-specific Cadillac SLS and Buick Excelle XT, the latter described as a four-door "coupé-like sedan."

The Excelle XT will take a place between the Excelle and the new Regal. The Cadillac gets 3.0-liter and 3.6-liter engines with GM's SIDI technology that also grace Australia's new Holden Commodores. The luxury sedan, a lengthened version of our STS with a superior interior, will also be China's introduction to OnStar.

[Source: Automotive News China - Sub. Req.]

REPORT: New Chinese-market Cadillac SLS and Buick Excelle XT to debut in Guangzhou originally appeared on Autoblog on Tue, 24 Nov 2009 15:59:00 EST. Please see our terms for use of feeds.

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SAIC-owned MG launches MG 6, first all-new car in 14 years

Jonathon Ramsey — Mon, 23 Nov 2009 19:00:00 EST

Filed under: China, Hatchback, Misc. Auto Shows

2010 MG 6 - Click above for high-res image gallery

The last new MG was the MGF sportscar way back in 1995, and oh, what a difference 14 years makes. The MG6 is the first new MG by the company's new owner, Shanghai Automotive Industry Corp. (SAIC), and they've chosen a four-door liftback for their coming out party. About the size of a VW Golk/Skoda Octavia, the MG6 will be powered by either a naturally aspirated 1.8-litre four-cylinder with 133 brake horsepower and 135 pound-feet of torque, or a turbocharged 1.8-liter with 160 bhp and 158 lb-ft. Shifting is said to be via five-speed automatic.

The MG 6 will go on sale in China first, but it has reportedly been engineered to meet global safety standards and is expected to be exported. SAIC hasn't given any numbers or even locations for export yet, but the company president said they plan to produce it in the UK by the end of next year.

Gallery: 2010 MG6

[Source: Autoblog China (translated)]

SAIC-owned MG launches MG 6, first all-new car in 14 years originally appeared on Autoblog on Mon, 23 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

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Spy Shots: Next-gen Buick Excelle for China snapped

John Neff — Mon, 23 Nov 2009 12:33:00 EST

Filed under: Spy Photos, Sedan, China, Buick, Chevrolet

Next-gen Buick Excelle for China - Click above for high-res image gallery

Soon Buick will have an entire lineup of competitive vehicles with the Enclave, all-new LaCrosse and soon-to-arrive-from-Europe Regal. Since the latter model is basically a direct port of the Opel Insignia, its success may help General Motors decide whether or not to snag a fourth model from another overseas market. The likely candidate is this car, the next-gen Buick Excelle that is currently sold only in China.

Recently snapped by spy photographers while undergoing testing with very little camouflage, the next-gen Excelle will adopt GM's Delta II small car platform that also underpins the new Chevy Cruze and Opel Astra. It's more closely related to later, however, as previous generations have been not much more than rebadged Astras. Just because Buick could sell the Excelle in the U.S., however, doesn't mean it should. Would the market really accept a Buick this small, especially when the Cruze is on sale across the street? Time will tell but you can let GM know what you think now in the comments.

Gallery: Spy Shots: Next-gen Buick Excelle for China

[Photos: KGP Photography]

Spy Shots: Next-gen Buick Excelle for China snapped originally appeared on Autoblog on Mon, 23 Nov 2009 12:33:00 EST. Please see our terms for use of feeds.

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Geely looking for 1M units from Volvo, plans Chinese factory

Jonathon Ramsey — Sun, 15 Nov 2009 16:59:00 EST

Filed under: China, Ford, Volvo, Geely

Should Geely succeed in its bid to purchase Volvo, the Chinese automaker does not plan to spend any time playing in its new Swedish sandbox. Ford moved about 380,000 Volvos around the world last year; Geely wants to sell 2.5 times that amount within five years. How so? By injecting "two or three bigger, more luxurious cars" into the lineup and working its home market of China, which Geely feels could be unlocked for 200,000 vehicles alone. Those units could be supplied by a Chinese factory capable of making 300,000 cars per year and would presumably be larger than the upcoming redesigned S60 (above).

Ford has designated Geely its preferred bidder for Volvo. However, in an echo of the tensions between General Motors and Magna's Russian bidding partner Sberbank, Geely will need to address Ford's intellectual property concerns among other issues to complete a sale. Volvo's technologies and reputation for safety are probably worth as much as the company's physical assets, so it's not surprising that Ford wants to negotiate the technology transfer. Assuming they can come to terms, closing the deal is expected to cost Geely $2 billion.

Gallery: 2010 Volvo S60

[Source: Automotive News, sub. req'd]

Geely looking for 1M units from Volvo, plans Chinese factory originally appeared on Autoblog on Sun, 15 Nov 2009 16:59:00 EST. Please see our terms for use of feeds.

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REPORT: Chinese automaker SAIC accused of hybrid tech theft by SsangYong

Jonathon Ramsey — Thu, 12 Nov 2009 18:32:00 EST

Filed under: China, Government/Legal, South Korea

In the beginning of the decade, before SsangYong got into really deep doo-doo, the Korean automaker began work on a hybrid control unit (HCU) with German engineering firm FEV. From 2004 to 2008, as the research continued, the South Korean government provided nearly half of the financial resources for the development of the technology. In 2005, as Ssangyong's stumbles began, Chinese automaker SAIC took a majority stake in the Korean company.

A year later, in 2006, SAIC saw the success SsangYong was having with the HCU and allegedly pressured SsangYong engineers to hand over the technology. And that, according to Korean state prosecutors, violated laws regarding the transfer of "homegrown technologies... without state permission." Since the Korean government paid for almost half of the tech, SAIC's rights to the HCU needed to be approved by the Korean government.

Seven indictments have been brought against SsangYong engineers, none of whom were financially compensated for revealing the HCU plans to SAIC. It appears to be a simple case of bullying. No action is planned against SAIC. Hat tip to Regular Man!

[Source: Korea Times | Image: Jung Yeon-Je/AFP/Getty]

REPORT: Chinese automaker SAIC accused of hybrid tech theft by SsangYong originally appeared on Autoblog on Thu, 12 Nov 2009 18:32:00 EST. Please see our terms for use of feeds.

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Brilliance importer for Europe goes belly up

Jonathon Ramsey — Wed, 11 Nov 2009 08:02:00 EST

Filed under: Sedan, China, Europe

When Chinese automaker Brilliance wanted to invade The Continent, it chose Germany-based importer HSO Motors to introduce models like its BS4. Brilliance kept up its end of the agreement, shipping cars to HSO; HSO, however, couldn't get the cars sold, and a little more than a year into the partnership HSO has gone bankrupt.

Three reasons are blamed for the flame-out: the crash test videos for the BS4 and BS6, along with pricing. If you'll remember, when the German ADAC tested the Brilliance BS6, the result was a horror film that would have frightened Freddy Krueger with an official rating of zero stars. After a great deal of improvements and added equipment were put on the BS4, tested two years later, the results were much more palatable -- yet the car still received just three stars. The ADAC's had raised its testing standards, so what would have earned the BS4 a three-star rating under the old methods was only good for zero this time around. That didn't make German buyers comfortable.

The ADAC's testing methods have been labeled unfair, and it's been noted that the ADAC is not a regulatory body. Yet other cars tested under the new methods, like the Skoda Yeti and Honda Jazz, earned five stars. Beyond that, the BS4 is priced at about €16,000 ($24,000 U.S.). Even though it's larger, it's priced against cars like the Focus and Golf, and well above a Skoda Octavia. As a maker trying to earn its way into the field of German car offerings, Brilliance will need to go well beyond the norm to to make its case. For now, Brilliance has taken over HSO Motors' role as importer.

[Source: Euro Car Blog]

Brilliance importer for Europe goes belly up originally appeared on Autoblog on Wed, 11 Nov 2009 08:02:00 EST. Please see our terms for use of feeds.

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REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China

Michael Harley — Sat, 07 Nov 2009 14:26:00 EST

Filed under: China, Government/Legal, Plants/Manufacturing, Saab

Beijing Automotive Industry Holding Co. (BAIC), announced as a minority partner in Koenigsegg's deal to purchase Saab from General Motors two months ago, plans to produce the Saab 9-5 on Chinese soil next year. The involvement of BAIC in the Saab transaction helps Koenigsegg close the deal and gives the Chinese company leverage to re-badge the previous-generation Saab 9-5 as its own or to simply expand the brand's existing reach within the country.

In September, Saab CEO Jan-Ake Jonsson told reporters he wanted to double the number of Chinese Saab dealers from 15 to 30, and that he had an interest in local Chinese production. "Beijing Auto is an opportunity for us to establish ourselves in the Chinese market with their experience," the CEO said. Under current plans, Saab imports all cars to China, where they're sold under the Shanghai General Motors network. Sales have been slow, but promoting the brand under the watchful eye of BAIC may help the brand gain traction in China's huge automotive market.

[Source: Gasgoo]

REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China originally appeared on Autoblog on Sat, 07 Nov 2009 14:26:00 EST. Please see our terms for use of feeds.

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SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions

Noah Joseph — Wed, 04 Nov 2009 19:26:00 EST

Filed under: Motorsports, China

2009 Race of Champions - Click above for high-res image gallery

Every year, around the world, drivers compete wheel to wheel in all manner of racing series, from rally to F1, touring cars to Le Mans and everything in between. It gives racing fans plenty of varied action to follow, but it leaves one question ultimately unanswered: who is the world's best driver? That's where the Race of Champions comes in.

The event has been held every year since 1988 at the end of the regular racing season, giving the world's best from all manner of racing series the world over a chance to compete against one another on equal footing and common ground. And this year's Race of Champions was no less decisive. Follow the jump to read who claimed victory as the champion of champions.

Gallery: Race of Champions 2009

Continue reading SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions

SPOILER ALERT: Champion's Champions Crowned at 2009 Race of Champions originally appeared on Autoblog on Wed, 04 Nov 2009 19:26:00 EST. Please see our terms for use of feeds.

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Shreveport, LA mayor lobbies D.C. to close the HUMMER deal, already

Jonathon Ramsey — Sat, 24 Oct 2009 14:16:00 EST

Filed under: SUV, Truck, China, Government/Legal, Plants/Manufacturing, GM, Hummer, UAW/Unions

Cedric Glover, the mayor of Shreveport, Louisiana, went to Washington, D.C. to plead his case for the sale of Hummer to Tengzhong. The only thing is, we're not sure why he went. To be more precise, we do know that he wants to protect jobs at GM's Shreveport plant that builds Hummers. The plant has about 800 workers who build some of The General's pickup trucks and Hummer models, and the loss of The Big H would undoubtedly put people out of work.

What we're not sure of is what he thinks Washington has to do with it. He did ask that a couple of D.C. muckety-mucks "consider reaching out to the Chinese government to urge immediate approval of the Hummer deal," but Washington hasn't expressed any opposition to the deal and probably couldn't get the deal concluded on the Chinese side any sooner -- never mind the fact that Hummer is the least of Washington's concerns as far as China goes.

We've been told by one source at Hummer that although nothing is final until it's signed, they feel good about the deal, and Tengzhong must have known what it was doing when it made the bid in the first place. Yet beyond all that, as it stands today the Shreveport plant has three years to live at most: the facility wasn't part of the Hummer sale, and GM said it would shutter the place by 2012 at the latest. Mayor Glover wants to save jobs in his town, which is great, but unless GM starts going gangbusters (and soon) then Glover could be playing the Deck Chair and Sinking Ship game.

[Source: HummerGuy]

Shreveport, LA mayor lobbies D.C. to close the HUMMER deal, already originally appeared on Autoblog on Sat, 24 Oct 2009 14:16:00 EST. Please see our terms for use of feeds.

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Jianghuai flagship sedan looks like an Infiniti G35 with elephantitis of the grill

Jonny Lieberman — Fri, 23 Oct 2009 17:00:00 EST

Filed under: Sedan, China, Etc.

Who says Twitter is good for nothing? Making fun of derivative Chinese car designs (cough Geely cough) is like shooting fish in a barrel. Only the barrel has no water in it, is only six-inches deep and you're using a shotgun. Still, we're thinking this Jianghuai sedan might be taking a cake or two. Obviously, the front end is a bit much. And looking at the car in profile, the Jianghuai isn't just influenced by the Infiniti G35 -- it is the G35. Stare harder at that C-pillar if you don't believe us. But why completely rip off one car when you can jack two? Make the jump to check out the this Jianghuai's pilfered rear.

[Source: Cheshi]

Continue reading Jianghuai flagship sedan looks like an Infiniti G35 with elephantitis of the grill

Jianghuai flagship sedan looks like an Infiniti G35 with elephantitis of the grill originally appeared on Autoblog on Fri, 23 Oct 2009 17:00:00 EST. Please see our terms for use of feeds.

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Recork the Champagne? China says Hummer paperwork not submitted yet

Jonathon Ramsey — Mon, 12 Oct 2009 16:29:00 EST

Filed under: SUV, China, Government/Legal, GM, Hummer

2008 Hummer HX concept - Click above for high-res gallery

Last week, it was reported that General Motors had signed a definitive agreement to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company and its partner in the deal, Lumena Resources Corp., would pay $150 million and receive Hummer and its intellectual property, ownership of U.S. franchise agreements, and manufacturing, business, and component assistance during a four- or five-year transition period.

The questions being raised now concern what is happening on the other side of the Pacific. The Chinese Commerce Ministry reportedly hasn't received Tengzhong's application to officially bring Hummer home, which has led observers to wonder if there will be a holdup or reversal of the deal. According to a Hummer representative, however, Tengzhong had to finalize the deal with GM before it could present it for approval to the Chinese authorities:

The closing of the transaction is subject to customary closing conditions and regulatory approvals and/or review by agencies in China and the U.S. Tengzhong has started communicating with the relevant regulatory bodies and will continue to support the application process in accordance with the requirements. Formal engagement was only able to begin with the signing of the definitive agreement.

If all goes well, Tengzhong hopes to have the deal closed by early 2010.

Gallery: Detroit 2008: HUMMER HX in the design studio

[Source: Automotive News, sub. req'd.]

Recork the Champagne? China says Hummer paperwork not submitted yet originally appeared on Autoblog on Mon, 12 Oct 2009 16:29:00 EST. Please see our terms for use of feeds.

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Fine China: One-off porcelain-finish Ferrari 599 special to be auctioned for charity [w/VIDEO]

Noah Joseph — Tue, 06 Oct 2009 12:59:00 EST

Filed under: Coupe, Performance, Auctions, China, Videos, Ferrari, Specialty, Design/Style

One-of-a-kind Ferrari 599 in cracked porcelain by Lu Hao - Click above for UPDATED high-res image gallery

In a communist country, all Ferraris are equal, but some are more equal than others. Take the special-edition 599 that the Italian automaker debuted exclusively for the Chinese market. Only twelve of them will be made. And now, an even more exclusive version - as exclusive as they get, really - has been presented.

This one-of-a-kind special Ferrari has been further differentiated by Lu Hao, a Chinese artist who applied the special touches that make the China special edition, well...special. It's been decked out in the cracked glaze pattern of the coveted Song Dynasty-era Ge Liln porcelain, and signed by the artist. The unique supercar will be auctioned off for charity in Beijing on November 3, but you can see it for yourself in the gallery below and the video after the jump.

UPDATE: Two new images added to the gallery below, and official press release inserted under the video after the jump.

Gallery: Ferrari 599 in cracked porcelain by Lu Hao

[Source: Ferrari]

Continue reading Fine China: One-off porcelain-finish Ferrari 599 special to be auctioned for charity [w/VIDEO]

Fine China: One-off porcelain-finish Ferrari 599 special to be auctioned for charity [w/VIDEO] originally appeared on Autoblog on Tue, 06 Oct 2009 12:59:00 EST. Please see our terms for use of feeds.

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To Chuanfu! Thanks for Everything, Warren Buffett

Chris Paukert — Fri, 02 Oct 2009 18:29:00 EST

Filed under: China, Earnings/Financials, Celebrities

Wang Chuanfu (above), the founder of Chinese battery manufacturer and automaker BYD is reportedly the richest man in all of China. Already a wealthy man, Bloomberg reports that Chuanfu has jumped a startling 102 places to land himself atop Hurun Rich List, an annual wealth index chronicling the country's richest people.

How did this happen? Chuanfu made nice with "The Oracle of Omaha" Warren Buffett, and the investor has paid him back - handsomely. The iconic businessman's Berkshire Hathaway Inc. took a 10% stake in BYD this year, and the stock feeding frenzy that resulted pushed Chuanfu's personal wealth from a piffling $880 million up to a get-Robin-Leach-on-the-horn $5.1 billion. Buffett himself pocketed a billion from the relationship in short order, too.

Of course, Bloomberg notes that it also helps that BYD's F3 sedan has become China's best-selling automobile this year, and presumably the demand for high-capacity rechargable batteries for everything from phones and laptops to hybrid autos isn't going anything but up.

Either way, we wouldn't be surprised to learn that Chuanfu plans on repaying Buffett's favor come holiday season by sending him the mother of all fruit baskets.

[Source: Bloomberg | Image: Bill Pugliano/Getty]

To Chuanfu! Thanks for Everything, Warren Buffett originally appeared on Autoblog on Fri, 02 Oct 2009 18:29:00 EST. Please see our terms for use of feeds.

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REPORT: Mitsuoka to offer unique rental cars in Japan, also plans to sell in China

Jonathon Ramsey — Sun, 27 Sep 2009 11:15:00 EST

Filed under: Convertible, Coupe, Performance, China, Japan, Beijing Motor Show

Mitsuoka Orochi - Click above for high-res image gallery

Mitsuoka, the Japanese car company whose mission seems to be hoarding all the ugly in the entire world and using it to design automobiles, will expand into Japan's rental car market and offer its luxury range in China. Japanese drivers will be able to rent the Orochi for ¥25,000 ($279 US) from 10 a.m. to 7 p.m., or for three whole days for ¥45,000 ($501 US). They can also sport the Himiko for ¥20,000 ($223 US) for those nine hours, or ¥36,000 ($401 US) for 72 hours.

The sea monster-faced Orochi will also spearhead Mitsuoka's charge into China. The company plans to display the car at next year's Beijing Auto Show, and to open dealerships in Beijing, Shanghai and Guangzhou. We know the Chinese have occasionally fascinating taste in car design, but we can't wait to see how they receive the Orochi. Mitsuoka wants to move 35 units in its first year, and as if its looks weren't queer enough, the car is expected to cost 50% more in China than it does in Japan, where it will already set you back ¥9,345,000 ($87,287 USD). Any takers?

Gallery: Mitsuoka Orochi

[Source: Antara News]

REPORT: Mitsuoka to offer unique rental cars in Japan, also plans to sell in China originally appeared on Autoblog on Sun, 27 Sep 2009 11:15:00 EST. Please see our terms for use of feeds.

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