BEIJING/HONG KONG/FRANKFURT Daimler's main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources told Reuters.
BEIJING/SHANGHAI China's auto market, the world's biggest, is set for a third year of contraction with a 2% decline in sales next year, hit by a weaker economy and U.S.-China trade tensions, the country's top auto industry body said on Thursday.
BEIJING U.S. electric vehicle maker Tesla Inc plans to increase prices of imported Model 3 vehicles in China in January, sources familiar with the matter said.
BEIJING/SHANGHAI Auto sales in China fell for a 17th consecutive month in November, with the number of new energy vehicles (NEVs) sold contracting for a fifth month in a row, data from its biggest auto industry association showed on Tuesday.
PARIS/BEIJING Peugeot maker PSA Group said it is preparing to sell its 50% stake in an eight-year-old joint venture with Chinese partner Chongqing Changan Automotive which has struggled with falling sales.
* Daimler says appreciates BAIC as long-term investor
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BEIJING/FRANKFURT Daimler's main Chinese joint venture partner BAIC Group has signalled its intention to increase its stake in the German luxury car manufacturer, sources briefed on the matter said, after it built up a 5% Daimler holding in July.