In recent years, the Chinese car market has witnessed intense competition. In less than three months of 2023, the competition has intensified further, with several joint-venture brands joining a price reduction war. In early March, Chinese car maker Dongfeng Group, with the support of Hubei provincial authority’s subsidies, cut prices of several types of vehicles,…
Joint Venture Brands Amid Price Reduction Frenzy in China’s Auto Market
Sollers in Talks to Buy Mazda out of Russian Joint Venture
September 26, 2022
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MOSCOW—Russian automaker Sollers is in talks with Mazda Motor Corp. about buying the Japanese company’s stake in their Russian joint venture, Sollers said on Monday, as Mazda prepares to wind down operations in Russia. Mazda, which sold 30,000 cars in Russia last year, said in March that exports of parts to the venture’s Vladivostok plant…
Ford Sees ‘Significant’ Job Cuts as It Picks Spain for EV Production
BARCELONA—Ford Motor Co said on Wednesday it will start producing electric vehicles in Spain later this decade but that would imply “significant” job cuts at its Spanish factory and another one in Germany amid its ambitious electrification push in Europe. The U.S.-based carmaker said in a statement it had chosen its plant in Valencia as…
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