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  Geely chief builds $9 billion stake in Daimler
Bloomberg | 2018/2/24

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German company said in a regulatory filing Friday. The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans.
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  Changan, Chery sales slump in January
Automotive News China | 2018/2/23

Two major state-owned light-vehicle makers, Changan Automobile Co. and Chery Automobile Co., continued to lose market share in January because of sharp sales declines. Changan¡¯s China sales slumped 19 percent year on year to around 154,000 vehicles while  Chery¡¯s January sales fell 15 percent year on year to roughly 47,800 vehicles.
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  GAC launches output at new Xinjiang factory with crossover
Automotive News China | 2018/2/23

GAC Motor Co. launched output at an assembly plant in Urumqi, capital of northwest China¡¯s Xinjiang autonomous region.  The 1.1 billion yuan ($173 million) plant has initial annual capacity of 50,000 vehicles. Its first product is the Trumpchi GS4 compact crossover.
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  CAAM vice chairman died by suicide, reports say
Automotive News China | 2018/2/23

Wu Shaoming, vice chairman and secretary general of the China Association of Automobile Manufacturers, killed himself on Feb. 13, according to Chinese media.  Wu, 55, jumped to his death at his home in a Beijing apartment building, reported several Chinese media outlets, including The Paper, a Shanghai news website. 
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  Toyota cuts reliance on key rare earth metal to slash EV motor costs
Reuters | 2018/2/23

Toyota Motor Corp. has found a way to reduce the amount of a key rare earth metal sourced in China and used in magnets for electric vehicle motors by around 20 percent, which could tame the cost of producing EVs and reduce the risk of a supply shortage of materials needed for their production. 
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  MG sales stay robust on strength of MG ZS crossover, MG6 sedan
Automotive News China | 2018/2/23

Sales of MG, now owned by SAIC Motor Corp., have remained strong in China, soaring 163 percent year on year to 24,057 vehicles in January.  The increase was led by the MG ZS compact crossover and the upgraded MG6 compact sedan.
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  Faurecia China sales rise behind domestic automaker volume
Automotive News China | 2018/2/23

Faurecia¡¯s sales in China advanced 15 percent year on year to 2.25 billion euros (17.55 billion yuan) in 2017 thanks to strong demand for its components from domestic Chinese automakers.  Last year, its sales to the domestics in China surged 63 percent from a year earlier to 355 million euros, the French supplier said.
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  Chinese bus maker lands 407 million yuan export deal with Saudi company
Automotive News China | 2018/2/23

Ankai Automobile Co., a Chinese bus maker, has secured two orders worth a total of $64 million (407 million yuan) from Hafil Transport Co., a leading transport company in Saudi Arabia, this year.  It will deliver the buses to Hafil Transport by June 7, Ankai said in a statement.
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  COMMENT
China's GAC Motor in Detroit: A sign of the next new auto empire
Michelle Hill | 2018/2/20

At this year's Detroit auto show, GAC Motor, a division of China's Guangzhou Automobile Group, announced it would enter the U.S. in 2019 with several car models.  The years of Chinese startups unveiling concept cars that never make it out of their domestic market are coming to an end. The GAC announcement looks to be just the beginning of a wave of industrial goods coming out of China in the near future. Pictured:  Michelle Hill is a member of the Global Automotive Practice at consultancy Oliver Wyman.
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  BAIC estimates 65% net profit decline on weak sales of proprietary brand, Hyundai JV
Automotive News China | 2018/2/20

BAIC Motor Co. estimates its 2017 net profit plunged 65 percent year on year to 40.4 billion yuan ($6.4 billion).  The company blamed the slump on sales declines of its Beijing brand and its joint venture with Hyundai Motor Co.
>> Read Full Story
 

TOP 10 HEADLINES
OF THE LAST WEEK
Geely chief builds $9 billion stake in Daimler

Changan, Chery sales slump in January

GAC launches output at new Xinjiang factory with crossover

CAAM vice chairman died by suicide, reports say

Toyota cuts reliance on key rare earth metal to slash EV motor costs

MG sales stay robust on strength of MG ZS crossover, MG6 sedan

Faurecia China sales rise behind domestic automaker volume

Chinese bus maker lands 407 million yuan export deal with Saudi company

China's GAC Motor in Detroit: A sign of the next new auto empire

BAIC estimates 65% net profit decline on weak sales of proprietary brand, Hyundai JV

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