Beijing Auto To Buy ‘Major Brand’ in Second Half of The Year

Share Our Knowledge With Your Friends, Contacts And Co-Workers

In a recent media briefing Beijing Auto’s President, Mr. Xu He Yi remarked that Beijing Auto is prepping to buy a major Western brand in the second half of the year.

Beijing Auto’ Deputy Chairman, Mr. Dong Hai Yang was also present at the media briefing where he commented that Beijing Auto is already working in partnership with international investment firm that will assist Beijing Auto take over a European brand that has considerable brand heritage with existing production capacity. Mr. Dong went onto comment that he plans to use the purchased company as a means to push Beijing Auto’s presence into the European market, Mr Dong did not give out any particular names but he did hint that two companies are currently ‘under research’ by his team.

Xu He Yi believes that Beijing Auto will push themselves as a global automotive brand in the next few years with a greater focus on automotive exports. Xu commented that Beijing Auto will be a leader in high end exports, which indicates that Beijing Auto’s Senova brand, based on older Saab technologies, will be leading the way in paving an export road for Beijing Auto.

Whilst the European brand in question hasn’t yet been revealed by Beijing Auto, Daimler did announce earlier this year that they would take a 12% stake in Beijing Auto with it thought that Beijing Auto would act in a reciprocal manner with the company taking a stake in Daimler, such a move hasn’t yet been announced. Other rumors indicate that PSA might be on the look out for a Chinese investor but it seems that PSA would be too big of a fish for Beijing Auto to bite off just yet.

About the author  ⁄ Ash

China Car Times is the number one portal for the latest information, statistics, and industry information on the Chinese automotive industry. Over the past six years of operation we have seen the Chinese auto market grow from a backwater of old European models to the world's largest auto market with the world's leading technology being delivered here first. You can connect with China Car Times founder and Editor Ash Sutcliffe by clicking on the Linkedin logo, you can also follow us on Twitter, Facebook and Google Plus via the relevant icons

3 Comments

  • dragin
    July 1, 2013

    “Xu commented that Beijing Auto will be a leader in high end exports,..”

    But what models will BAIC export in large volume?. Surely they don’t want to export the newly introduced sedans, as they have yet to be recognized for quality, or safety, within the Chinese market.

  • July 3, 2013

    Ash, not sure this is what your wife had in mind when she said she wanted a new car!

  • July 3, 2013

    Sorry that comment was meant to be on the 8WD contraption!

Leave a Comment

See News by Industry
Industry News China Green Auto News Spy Shots China Auto Culture
See News By Brand
Acura China Acura China Aston Martin China Aston Martin Audi China,FAW-Audi Audi China
Baojun Auto Baojun Beijing Auto Beijing Auto Group Beijing Auto Beijing Auto
Besturn Auto, FAW Besturn Besturn BMW China BMW China Brilliance Auto Brilliance Auto
Buick China Buick China Baojun Auto BYD Baojun Auto Cadillac
Changa,Chang'an Chang'an - Chana Changfeng Changfeng Changhe Auto Changhe
Chery Auto Chery Chevrolet China Chevrolet Chevrolet China Chrysler
Citroen China Citroen Dodge China Dodge Dodge China Citroen DS
Dongfeng Auto Dongfeng Geely Emgrand Emgrand Geely Emgrand Englon
FAW,First Automobile Works FAW Ferrari China Ferrari Fiat China Fiat
Foday Auto Foday Ford China,Changan-Ford Ford Guangzhou Auto Guangzhou Auto
Geely Auto Geely Geely Auto Gleagle GoNow Auto GoNow
Great Wall Great Wall Hafei Auto Hafei Haima Haima
Hawtai Hawtai Honda Honda Huanghai Yellow Sea Auto Huanghai (Yellow Sea)
Hyundai China Hyundai Infiniti China Infiniti JAC China JAC
Jaguar Jaguar Jinbei Jinbei JMC JMC
Kia Kia     Jaguar Land Rover
Landwind Landwind Lexus China Lexus Lifan Auto Lifan
Lincoln Lincoln Youngman Lotus Youngman Lotus Luxgen Luxgen
Mazda Mazda Mercedes China Mercedes MG - Morris Garages MG
MINI China MINI Mitsubishi China Mitsubishi Nissan China Nissan
Opel China Opel Opel China Peugeot Reely China Reely
Renault Riich Riich Riich Roewe
Rolls-Royce China Rolls-Royce SEAT SEAT Senova Senova/ShenBao
Double Ring Double Ring - Shuang Huan Sichuan Yema Sichuan Yema Skoda Skoda
Double Ring Smart Subaru Subaru Suzuki Suzuki
Toyota Toyota Volvo Volvo Volkswagen Volkswagen
Zotye Zotye   Others    
Close
Sign up today to receive China Car Times weekly newsletter!
Your name
Your email