Israel Corp. has now won approval from China's still heavily centralized government to set up shop in partnership with Chery Automobile. The Israeli partner will take a 45% stake in the venture, worth about $225 million, with Chery presumably taking the other 55%. The news of the deal hit the wire shortly after the now-refuted
Instead of beating each other's brains out and assuring that nobody wins, SAIC and Nanjing have decided to stand close to each other on the playground. While they may still avoid eye contact and kick pebbles instead of developing a friendship, they will be carrying out what they're terming a "comprehensive collaboration." Design, production and sales efforts will be pooled in an effort to make China's automakers competitive with outsiders like General Motors and Volkswagen, who currently dominat
- Volvo shoots for self-drivers by 2021
- Jeep spends $1 billion on factories
- Find Parts & Accessories for your vehicle!
- Obama rolls out new EV plan
- Infiniti dealers ranked best, Tesla worst
- Compare Volvo XC90 and Lincoln MKX