BAIC in the Market for Western Car Companies
Got a mid to large sized automobile manufacturer to sell? Preferably with the latest technology and know-how? Want to unload a portfolio of established brands? Drowning in debt? Then call +86 10 67699888 and talk to Xu Heyi at Beijing Automotive Industry Corp (BAIC). You may find an attentive listener.
After failing to reach an agreement to buy Opel, BAIC will “continue to seek international cooperation opportunities,” said BAIC’s President Xu Heyi (via Gasgoo.)
Xu Heyi set himself aggressive targets. The aforementioned international cooperation opportunities would be extremely helpful in reaching the ambitious targets: By 2015, BAIC wants to sell 3 million units. That’s three times the size of Volkswagen or GM China. In the first half of this year BAIC managed to sell 580,000 vehicles, up 28 percent from a year earlier.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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Sounds like a great fit for Fiat.
I thought they were going back to plan B (Volvo) if they couldn't get Opel? Maybe they should check out eBay. Feels like a board game. No one wants to sell their assets to the player who obviously has the biggest wad of funny money, because that will end the game for everyone else who is struggling.