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Top related persons:
Stellantis - 2 Hong Kong CNN — - 1 Leapmotor - 1 Mercedes - 1 Nio - 1 weren’t - 1 ” Mitsubishi - 1 “ - 1
Top related locs:
Hong Kong China Leapmotor Hangzhou Greater China Shanghai Wuhan Xiangyang
Top related orgs:
Chrysler - 2 Guangzhou Automobile Group Company - 2 Hong Kong CNN - 1 Volkswagen - 1 Xpeng - 1 CNN - 1 Nio - 1 Hong - 1

Search resuls for: "Guangzhou Automobile Group Company"


2 mentions found


☆ Stellantis is teaming up with Chinese startup Leapmotor on EVs
  + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com   time to read: +2 min
The two will form a joint venture that will give Stellantis the exclusive rights to produce, export and sell the Chinese brand’s vehicles outside Greater China. Stellantis will control the joint venture, with a 51% stake, while Leapmotor will take a 49% share. In July, Volkswagen announced it was buying a 5% stake in Chinese EV maker Xpeng and unveiled a strategic partnership to jointly develop new vehicles. News of Stellantis’ latest partnership comes about a year after it terminated its joint venture in China with Guangzhou Automobile Group Company (GAC). Stellantis is acquiring Leapmotor shares at a price of 43.8 Hong Kong dollars ($5.6) apiece, according to a Thursday stock exchange filing by the Chinese firm.
Persons: Hong Kong CNN —, Leapmotor, Mercedes, Nio, Stellantis, weren’t Organizations: Hong Kong CNN, Chrysler, Volkswagen, Xpeng, Reuters, CNN, Nio, Guangzhou Automobile Group Company, Hong Locations: Hong Kong, Leapmotor, Hangzhou, Greater China, Shanghai, China
☆ Japanese carmaker Mitsubishi ending production in China, world's biggest car market
  + stars: | 2023-10-25 | by ( Michelle Toh | ) edition.cnn.com   time to read: +3 min
Hong Kong CNN —Mitsubishi Motors will stop producing vehicles in China, in the latest sign of retreat by foreign automakers in the world’s biggest car market. Following weeks of speculation, the Japanese carmaker confirmed Tuesday that it would wind down local manufacturing and exit a long-running joint venture in mainland China. The move came days after Stellantis, home to brands such as Jeep and Chrysler, moved to withdraw further from China, too. Stellantis continues to sell imported vehicles in China through dealerships. The Japanese firm will pour up to €200 million ($212 million) into Ampere, helping it push further into the European market.
Persons: ” Mitsubishi, “, Stellantis, Dongfeng, Ampere Organizations: Hong Kong CNN — Mitsubishi Motors, Mitsubishi, Guangzhou Automobile Group Company, GAC, Chrysler, Dongfeng Motor, Peugeot, Renault Locations: China, Hong Kong, Wuhan, Xiangyang, French
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