Global


China to scrap foreign ownership caps on automakers by 2022

The move is a major policy shift that will open the market wider to automakers such as Nissan and Tesla. It comes amid a trade standoff between Washington and Beijing, and signals the end of a 1994 rule in the biggest auto market that limits foreign automakers to a 50 percent share of any local venture.

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China to scrap foreign ownership caps on automakers by 2022

The move is a major policy shift that will open the market wider to automakers such as Nissan and Tesla. It comes amid a trade standoff between Washington and Beijing, and signals the end of a 1994 rule in the biggest auto market that limits foreign automakers to a 50 percent share of any local venture.

Ford aims to rebuild trust with China partners as sales slip

After 20-odd years of "marriage" in China, Ford is preparing a product blitz and campaign to localize management to maintain and build trust with partners Changan Auto and Jiangling Motors Group. The goal: Reverse a sales slump and boost employee morale.

UPDATED: 2/23/18 1:12 pm ET - adds details
Chief of China's Geely builds $9 billion stake in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has amassed a stake of 9.69 percent in Daimler AG, the German company said Friday. The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes Benz cars, trucks and vans.


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