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Home >> Automaker
  GSR nears $1 billion deal for Nissan battery venture
Bloomberg | 2017/5/30

HONG KONG -- GSR Capital, a Chinese private equity firm with backing from the Hubei provincial government, is nearing a deal to acquire control of a Nissan Motor Co. rechargeable battery unit for $1 billion (6.9 billion yuan), sources said.  GSR is in advanced talks with Nissan to buy a stake in Automotive Energy Supply Corp., which makes lithium ion cells for the Japanese company's Leaf electric car. 
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  Hyundai reboots in China after missile dispute
Reuters | 2017/5/30

SEOUL -- Bruised by anti-Korean sentiment in its biggest market and losing ground to local automakers, Hyundai Motor Co. will open its first brand store in China, and may assemble its premium Genesis lineup locally and accelerate the launch of an SUV, sources said.  The measures are aimed at rebooting the South Korean firm's branding in China, where many see Hyundai as a low-end maker of city taxis.
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  Changan Auto cuts new-vehicle prices to revive sales
Automotive News China | 2017/5/30

Chongqing Changan Automobile Co. slashed new-vehicle prices 4,000 yuan to 18,000 yuan ($580 to $2,600) to stimulate slumping sales.  The price cuts, effective May 27, were made to Changan's full product line of microvans, sedans and crossovers, the state-owned automaker said.
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  Chery exports continue rise in April
Automotive News China | 2017/5/30

Chery Automobile Co.'s light-vehicle exports jumped 58 percent year on year to 10,030 in April as demand continued to rebound in key emerging markets.  Chery, China's biggest automotive exporter, accounted for 22 percent of the country's total light-vehicle shipments to overseas markets last month.
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  Ford taps veteran manager to lead Changan JV sales
Automotive News China | 2017/5/30

Ford Motor Co. appointed veteran manager Steve Hood vice president of sales and marketing for Changan Ford Automobile Co., its joint venture with Chongqing Changan Automobile Co.  The appointment will take effect July 1. Hood succeeds Joseph Liu, who was named Ford's sales chief for the Asia region.
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  COMMENT
LeEco, on a short leash, may ditch EV project in U.S.
Yang Jian | 2017/5/26

SHANGHAI -- Early last year, LeEco formed a U.S. subsidiary, Faraday Future, to build a $1 billion electric vehicle plant in Nevada.  Despite a subsequent cash crunch, company founder Jia Yueting has repeatedly pledged to move forward with the factory. Until now.  In the wake of a recent financial bailout, LeEco is rapidly approaching the point at which it will have to abandon the U.S. project.  Pictured: Yang Jian is managing editor of Automotive News China.
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  Geely to buy stakes in Malaysia's Proton, U.K. automaker Lotus
Staff and wire reports | 2017/5/26

Chinese automaker Zhejiang Geely Holding Group will buy a 49.9 percent stake in struggling carmaker Proton from Malaysian conglomerate DRB-Hicom.  Geely will also acquire a majority share of 51 percent in U.K. sports-car maker Lotus Cars from Proton, Geely said in a statement Wednesday.
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  Ford names new China CEO as Schoch retires
Automotive News China | 2017/5/26

Ford Motor Co. named Peter Fleet chairman and CEO of its China operations, succeeding Dave Schoch, who is retiring.  Fleet, 50, previously vice president of marketing, sales and service for Fords Asia Pacific unit, will also lead all of the company's operations and partnerships in Asia Pacific as Ford group vice president and president of Asia Pacific.
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  Faraday Future plans to raise $1 billion in new funding as chief backer struggles
Bloomberg | 2017/5/26

Electric vehicle maker Faraday Future is planning to raise $1 billion as it seeks to protect itself from the financial woes of its main backer, China's LeEco, a person with direct knowledge of the matter said.  The startup has begun meeting potential investors and is in the process of selecting advisers, said the person, who asked not to be identified because the details are private.

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  Investors bet against Great Wall's growth plans
Bloomberg | 2017/5/26

Short-sellers are betting that Great Wall Motor Co. will not meet its sales targets, and that China's increasingly competitive SUV market will pinch the company's profits.  Shares in China's largest SUV maker have fallen 18 percent from a February peak in Hong Kong as sales of its aging Haval H6 model fell and the company reported a quarterly profit decline. 
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TOP 10 HEADLINES
OF THE LAST WEEK
LeEco, on a short leash, may ditch EV project in U.S.

Geely to buy stakes in Malaysia's Proton, U.K. automaker Lotus

Ford names new China CEO as Schoch retires

Germany reports progress with China over EV quotas

Faraday Future plans to raise $1 billion in new funding as chief backer struggles

Investors bet against Great Wall's growth plans

Continental supplies control system for Great Wall gearbox

Mahle to produce air conditioner compressors in Changshu

Uber better watch out -- China's Didi is coming

Audi resolves distribution dispute with dealers

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