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Chinese Automakers May Buy GM and Chrysler

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Chinese Automakers May Buy GM and Chrysler
By Bertel Schmitt
November 18, 2008 – 35,119 views
Chinese carmakers SAIC and Dongfeng have plans to acquire GM and
Chrysler, China’s 21st Century Business Herald reports today. [A
National Enquirer the paper is not. It is one of China’s leading
business newspapers, with a daily readership over three million.] The
paper cites a senior official of China’s Ministry of Industry and
Information Technology– the state regulator of China’s auto industry–
who dropped the hint that “the auto manufacturing giants in China,
such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng
Motor Corporation, have the capability and intention to buy some
assets of the two crisis-plagued American automakers.” These hints are
very often followed with quick action in the Middle Kingdom. The hints
were dropped just a few days after the same Chinese government gave
its auto makers the go-ahead to invest abroad. And why would they do
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Posted by email from morris108’s posterous

Written by morris

November 20, 2008 at 12:40 pm

Posted in Uncategorized

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