Tag: joint ventures
Though a new Alpine is set to come out in 2016, the new car will be lacking in English blood: Renault and Caterham have broken off their engagement to revive the historic French marque.
With most EVs getting around 100 miles on a single charge from their battery packs, such vehicles are more suited for the downtown core than a trip to the mountains. However, Renault and LG Chem are looking toward boosting range toward Tesla-like levels, together.
Though Siemens won’t be putting their name upon the body of BAIC C70G for a DTM entry anytime soon, the Chinese automaker and German industrial giant will come together for an green vehicle-related joint venture in Beijing.
Though PSA Peugeot Citroen secured funding in a three-way deal between itself, the French government and Dongfeng, new boss and former Renault COO Carlos Tavares has a hard road ahead of him as he rebuilds the ailing automaker.
Two plants in Ford’s joint venture with Russian manufacturer OAO Sollers will experience job cuts as a result of a weakening ruble and decreasing demand by customers in the local market.
Volvo, with parent company Geely, is developing a lineup of premium A-segment vehicles aimed at the BMW 1 Series and Mercedes A-Class.
China’s Ministry of Industry and Information Technology, in line with President Xi Jinping’s desire for opening the domestic economy to private and foreign investors, plans to relax restrictions on foreign ownership of joint ventures with local automakers in the face of those warning such a move would be the beginning of the end of the Chinese local auto industry.
PSA Peugeot Citroen, Dongfeng and the French government have reached an outline deal to raise $5.5 billion in capital through a planned share sale in a last-ditch effort by PSA to remain alive after General Motors walked out of a similar deal over the Iranian market last year.
The automotive industry lobby group China Association of Automobile Manufacturers is at loggerheads with Beijing over a rule change proposal that would ease restrictions on foreign ownership of auto manufacturing ventures. The fear, according to CAAM Secretary General Dong Yang, is that should the restraining bolt be removed, the local industry would lose control of the joint ventures they currently hold, if not the Chinese auto industry itself.