Carmakers seal domestic tie-up
Source: Xinhua |
November 8, 2012, Thursday
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Print Edition
Print Edition
AFTER years of partnerships with foreign auto giants, China's domestic automakers have now begun to seek cooperation with local peers to sharpen their competitiveness in developing home-grown brands.
Two of China's major automakers, Guangzhou Automobile Group and Chery Automobile, have said they will form a strategic partnership and engage each other in a wide range of areas, including research and development, overseas business and production management. The agreement is the first of its kind among domestic carmakers amid government efforts to regulate the fragmented auto market through mergers and reorganization.
Two of China's major automakers, Guangzhou Automobile Group and Chery Automobile, have said they will form a strategic partnership and engage each other in a wide range of areas, including research and development, overseas business and production management. The agreement is the first of its kind among domestic carmakers amid government efforts to regulate the fragmented auto market through mergers and reorganization.
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