BEIJING/PARIS (Reuters) - China's Dongfeng Motor Group and Peugeot maker PSA are extending their business cooperation, despite the Chinese company reducing its stake in PSA to help smooth the French carmaker's merger with Fiat Chrysler Automobiles (FCA). Dongfeng said on Thursday it had agreed with PSA to extend the duration of their joint venture Dongfeng Peugeot Citroen Automobiles (DPCA).
U.S. President Donald Trump's administration will look very closely at the planned merger between Fiat Chrysler and Peugeot owner PSA , White House economic adviser Larry Kudlow said on Friday. "We will obviously look at it very, very carefully," Kudlow said on Bloomberg.
It looks like the Chinese car market is going to get a little more crowded. According to a report from Just-Auto, Nissan and its partner company, Dongfeng Nissan Passenger Vehicle Company, will be forming a new brand just for the people's republic. Called Venucia, the company aims to have its first products on the road by 2012. With such a short development time, we expect its stable to be made
China's third-largest automotive group, Dongfeng Motors, recently announced plans to invest a massive chunk of change into development of alternative technology vehicles. The company's future blueprint shows that Dongfeng will invest three billion yuan ($443 million U.S. at the current exchange rate) in an effort to speed up the commercialization of eco-friendly vehicles like hybrids and electrics.
Two months. That's how long the world will have to wait for Saab to identify its new owner, according to Managing Director Jan-Ake Jonsson. Although he didn't specifically mention candidates, Jonsson told Automotive News Europe that, "There are about five we want to talk to. There are a couple more we are also looking into." Possible suitors include China's Geely Automotive and Michael Harley
In an effort to keep its finger on the pulse of a quickly-expanding automotive market in China, Nissan's joint Chinese venture, Dongfeng Motor Co., has opened up a $41 million technical center in Guangzhou, Ch