SHANGHAI -- China's government has no plan to extend its subsidies for electric vehicles and plug-in hybrids to conventional hybrids such as the Toyota Prius. But automakers haven't gotten the message. Judging from product plans disclosed last week during the Guangzhou auto show, automakers plan to introduce a wave of conventional hybrids. Pictured: Yang Jian is managing editor of Automotive News China.
BEIJING -- Dongfeng Motor Corp. said it removed President Zhu Fushou from his position after the government launched an investigation on him this month for suspected graft. China's second-largest automaker appointed Li Shaozhu, an executive director, as its authorized representative, the company said in a stock exchange filing.
Zhang Hang is about as far as it gets from the old stereotype of an Audi buyer in China: She's in her early 30s, a woman and neither a government official nor a rich businessman."Audi drivers are the progressive, white-collar workers and it's an image I identify with," said the 32-year-old furniture designer, who's deciding between an A4L sedan or a Q5 crossover. "I work hard and want to make sure my money is well spent."
Chery Automobile Co. plans to sell its 30 percent stake in an electric vehicle subsidiary to attract new investment for its EV business. The automaker hopes to sell its share of the subsidiary for 920 million yuan ($144 million), Chery said in a notice posted in an equity exchange in the east China city of Wuhu.
Guangzhou Automobile Co. says its joint venture with Mitsubishi Motors Corp. will acquire the Japanese automaker's imported vehicle business. The joint venture, GAC Mitsubishi Motors Co., will pay no more than 348 million yuan ($54 million) to purchase the business, said GAC.
TOKYO -- Nissan Motor Co.'s Chinese joint venture has accused billionaire Jack Ma's soccer club of violating a sponsorship agreement by removing its ad logo from team jerseys before the final match of Asia's top club competition held on Saturday. Photos of the match show players for the Guangzhou Evergrande Taobao club, which Ma co-owns with fellow billionaire Hui Ka Yan, wearing jerseys bearing the name of Evergrande Real Estate Group's insurance unit instead of Dongfeng Nissan's Venucia T70 SUV.
LONDON - The CEO of Jaguar Land Rover says the British carmaker will post a lower pre-tax profit in 2015 than in the previous fiscal year, due to major investments and a blast at China's Tianjin port that destroyed thousands of its cars. The company, which said on Tuesday it will invest nearly 500 million pounds (4.8 billion yuan) in its British engine plant, saw up to 5,800 cars damaged or destroyed in a chemical explosion at Tianjin in August.
GUANGZHOU -- General Motors aims to increase annual Chevrolet sales in China to 1 million vehicles by 2020, up from 717,007 in 2014. To achieve that target, it will introduce 20 new and improved models in China through 2020, GM said.
GUANGZHOU -- Executives gathered at the biggest motor show in southern China agreed that the days of exponential growth are over, underscoring how a sharp economic slowdown has tempered expectations. At the Guangzhou auto show on Friday, Volkswagen China Executive Vice President Soh Weiming predicted that industry sales of passenger vehicles may expand 3 to 5 percent next year.
WOLFSBURG, Germany -- Volkswagen Group says it will protect its planned investment of 4.4 billion euros (30 billion yuan) in China next year from a cost-cutting campaign in the wake of its diesel emissions scandal. In a written statement, the embattled German automaker noted that its investment "will be financed from the joint ventures' own funds" -- a reference to VW's two partnerships with China FAW Group Corp. and Shanghai Automotive Industry Corp.