In a statement Renault said, it would sell a little over a third of its Korea unit to China’s Geely Automobile Holdings for around $200 million. The move is aimed at freeing up funds for Renault to invest in its electric business… Read More ›
Geely
China’s CATL aims to raise $8.98 billion to expand lithium-ion batteries production
In a statement, Chinese battery giant CATL said, it is planning a private share placement to raise up to $8.98 billion (58.2 billion yuan) to fund six projects aimed at boosting the production capacity of lithium-ion batteries. The development comes at… Read More ›
China’s auto sector stumbles by 3% in May, outlook remains cautiously positive for full year
For the first time in 14 months, vehicles sales in China fell by 3% in May 2021, compared to the same period a year earlier, according to industry data released on Friday. Data from China Association of Automobile Manufacturers (CAAM)… Read More ›
Chinese automotive group BAIC purchases 5% stake in Germany’s Daimler
The development is aimed at reducing the cost of developing affordable electric self-driving cars. On Tuesday, in a development that marks Beijing Automotive Group Co Ltd (BAIC) further cementing its relationship with German carmaker Daimler, the Chinese company has purchased… Read More ›
China’s growing assertiveness rekindles German fears of foreign firms accessing its high-tech know-how
Geely’s agressive moves to access German sensitive high technology underscores a broader Chinese strategy of one-sided trade: attempts by German companies to gain full control over Chinese companies have repeatedly come to nought since it remains prohibited. China’s Geely’s purchase… Read More ›
AB Volvo drops Geely-linked Hakan Samuelsson from its board of directors
The move is not as simple as it seems – the Chinese company appears to have preempted the move and has taken strategic steps of its own. Following China’s Geely’s claiming a 10% stake in Daimler, AB Volvo, a Truckmaker… Read More ›
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