Archive for the ‘GAC’ Category

Chinese Automakers Eyeing International Roles

GAC, Geely looking to make an impact globally.

by on Jun.06, 2018

Geely Chairman Li Shufu purchased 9.7% of Daimler AG for $9.2 billion, and expects to partner with them on electrification..

Guangzhou Automotive Corp. or GAC, one of the largest automotive enterprises in China, still plans to move ahead with plans to export vehicles to the United States in 2019 or 2020, a top GAC executive told the annual Global Automobile Forum in Chongqing, China.

Meanwhile Li Shufu, the entrepreneur who developed Holding Group and recently bought 9.9% of Daimler AG, said he expects to collaborate in the future with the German automaker.

News Now!

Li Shao, GAC vice president, said GAC is fully committed to becoming an international company. The objective of becoming an international company was one of the company’s objectives when it was first organized back in the 1980s, Li said. But very from the very beginning, GAC’s management understood it had a great deal to learn if it wanted to succeed and it also had to do well in China, Li said. (more…)

China Tariffs on Hold as Trade War Talk Recedes

Two countries putting a deal together.

by on May.21, 2018

The Trump administration is backing away from proposed tariffs on a variety items imported from China.

The announcement by the U.S. Secretary of the Treasury Steve Mnuchin that the Trump administration will suspend any plans to impose tariffs on Chinese imports lowers the risks for American and European carmakers, fearing the impact of a trade war.

Companies such as Mercedes-Benz and BMW, which export American-made vehicles to China, will apparently be spared, facing the substantial tariffs the Peoples Republic of China had proposed imposing on vehicles exported from the United States.

Financial News!

Importers of vehicles from China, such General Motors, also will be spared American tariffs on vehicles from Chinese factories. (more…)

In Final Move as FCA CEO, Marchionne Expected to Order Massive Shift in Product, Manufacturing Plans

Small Fiat models likely to be dropped, brand may leave U.S.

by on May.18, 2018

Could FCA pull the Fiat brand out of the U.S.?

As Fiat Chrysler Automobiles prepares for life beyond its founding chief executive, CEO Sergio Marchionne is expected to announce major shifts in the automaker’s product and manufacturing strategy, according to several reports.

During a June 1 meeting meant to reveal FCA’s next five-year plan, the 65-year-old executive reportedly will announce that the Fiat brand will abandon two of its base models, the Punto and Mito, while shifting emphasis to more up-market models. The automaker also will put more emphasis on its Jeep brand which, Marchionne said during the Detroit Auto Show earlier this year, could help Fiat Chrysler double its earnings during the next five years.

The Last Word!

One of the key questions hanging over the Euro-American automaker may not be resolved during a meeting bringing together analysts and journalists from around the world: who will replace Marchionne as CEO? He has dropped hints that his successor will come from FCA’s current top management ranks, which means no women or outsiders are in the running.

(more…)

Chinese Automaker Nio Aims for $2b U.S. IPO

Move underscores China’s aggressive aims for American auto market.

by on Mar.01, 2018

Nio is selling its ES8 battery-electric SUV in China. Will it be the company's entry vehicle for the U.S.?

It has yet to sell a single car in the United States, but that hasn’t stopped Chinese electric vehicle startup Nio from putting together a consortium of American banks charged with setting up a U.S. IPO that could raise as much as $2 billion in capital.

While that’s a fraction of the $25 billion stock offering floated in 2014 by China’s massive e-commerce service, Alibaba Group Holding Ltd., it underscores the ambitious goals of Chinese automakers aiming to crack into the world’s second-largest automotive market.

Global News!

So far, only a handful of Chinese-made vehicles have come into the U.S. and, like the Buick Envision, they’re offered by Western brands such as Buick and Volvo. But a number of domestic Chinese manufacturers are hoping to crack the code over the next few years, including GAC which showed off a variety of models at the North American International Auto Show in January. (more…)

No Sale: FCA Not Negotiating with Chinese Nor Willing to Sell Off Jeep, Says Marchionne

Exec plans to release his final 5-year plan this quarter and then name his successor.

by on Jan.15, 2018

Marchionne plans to reveal his successor a few months from now but confides no women are in the running.

Fiat Chrysler Automobiles isn’t open to selling off its Jeep brand nor has it fielded any offers for a complete takeover by a Chinese company, FCA Chief Executive Sergio Marchionne said during a media roundtable at the North American International Auto Show in Detroit on Monday.

Marchionne said he wanted to clear up reports that have, in recent months, suggested Fiat Chrysler was up for sale – or that it was willing to let go of some key assets, such as the Jeep or Ram brands. But the executive did not rule out a closer relations with GAC, the Guangzhou-based automaker that serves as its partner in the Chinese market.

Breaking News!

“Without them we could not have gone as far as we have in China,” said Marchionne, who stressed “We are not going to break up (the company and) we are having no discussions with anyone in China interested in acquiring us.”

(more…)

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