News Digest: VW finally makes offer for MAN

VOLKSWAGEN made a long-awaited bid for MAN, valuing it at US$20 billion and stepping up plans to merge the German truck maker with Swedish rival Scania in which it also holds a stake.Volkswagen, Europe’s biggest car

News Digest: BYD set to list A shares in Shenzhen

CHINA’S battery and car maker BYD Co yesterday won government approval for its A-share listing on the Shenzhen Stock Exchange, which aims to raise 2.2 billion yuan (US$338 million) for expansion.Under its mainland listing plan, approved

News Digest: SVW to co-develop new luxury sedan

Shanghai Automotive Industry Corp recently signed an agreement with Volkswagen Group to co-develop a luxury sedan at their joint venture in China, the first of its kind in the VW brand’s global portfolio. Shanghai Volkswagen said

News Digest: Audi: Drive toward leasing

Audi recently held a ceremony to deliver 100 A6L sedans to Shouqi Car Rental Co to tap the high-end auto leasing market in Beijing. The cooperation with Shouqi is a strategic move by Audi, said Zhang

News Digest: Sharp growth in BYD Q1 profits

Shenzhen-based automaker BYD sold 45,000 cars in April, up 40.6 percent over its poor showing in the period a year ago, but a decline from the 68,000 cars in sold in March, the company said. Sales

News Digest: Little-known Hawtai makes deal for Saab

Plans to bring Swedish icon back to life and into ChinaBEIJING – With a planned investment of 150 million euros ($222 million) for a majority stake in Spyker Cars NV, little-known Chinese SUV and car manufacturer

News Digest: New Hyundai joint venture in Sichuan

South Korean automaker Hyundai Motors Corp is set to enter China’s commercial vehicle market after inking an agreement with Sichuan’s Nanjun Automobile Co on April 29. According to the Sichuan provincial government’s official website, the two

News Digest: JAC building its second car plant

After selling nearly 200,000 passenger vehicles last year, Jianghuai Automobile Co (JAC) has begun construction on a second car plant in East China’s Anhui province. Long known for its commercial trucks, JAC gained approval to make

News Digest: Big plans for ‘Beijing’ brand cars

BEIJING – The nation’s fifth-biggest carmaker Beijing Automotive Industry Corp (BAIC) has laid out a blueprint to join the ranks of the Fortune 500 and the world’s top 15 automotive companies by 2015, it announced at

News Digest: More than 4,000 Volvo cars recalled in China

BEIJING — China’s quality control authorities said Friday that more than 4,000 Volvo S40, XC60 and C70 vehicles have been recalled over problematic headlight cleaning systems.The flawed headlight cleaning pump may affect the washer fluid level