Here is one sad aspect to the inevitable consolidation of the wild and wooly Chinese car industry: It will reduce the amount of humorous material. Case in point: Zhejiang Gonow Auto, known as the creator of such memorable cars as the „Gonow Aoosed GS” will most likely not grace us with more unforgettable nameplates. True to its name, Gonow is gone. Well, not really.
“Guangzhou Automobile Group (GAC) has reached an initial agreement to gain a controlling stake in Zhejiang Gonow Auto,” reports China’s Global Times.
The official agreement was signed on April 26 in Hangzhou, Zhejiang Province. What becomes of Gonow is unclear. People working there say they won’t be swallowed by GAC and life will go on.
People at GAC say that “in the future, GAC will lead the cooperation.”
GAC has been on an expansion frenzy. A new joint venture will build Fiats, possibly Alfas and maybe Chryslers. They had bought Changfeng Auto which has a JV with Mitsubishi and produces its own line of SUV’s.