Tag: chinese

Saab saddles up with Chinese automaker Hawtei

Filed under: China, Europe, Saab, Earnings/Financials

Saab Emblem

Volvo no longer stands alone as the only Swedish automaker with a Chinese partnership. According to Autoblog.nl, Saab and The People’s Republic’s Hawtei are reportedly set to announce that the two companies have joined forces. Hawtei, formerly Hautai, is likely best known on this side of the globe for strutting a logo that could have been the bastard child of the BMW roundel and the Microsoft window. At this point, it’s unclear exactly what each automaker hopes to gain from the alliance, though something tells us that Hawtai will likely supply the capitol needed to keep the lights on at Saab.

The news comes after Saab announced that it had secured a loan to resume production in the short-term.

Autoblog.nl reports that Victor Muller, the current owner of Saab, will be part of an announcement about the Chinese partnership on Tuesday.

Saab saddles up with Chinese automaker Hawtei originally appeared on Autoblog on Mon, 02 May 2011 16:55:00 EST. Please see our terms for use of feeds.

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Saab closing in on deal with Russian, Chinese investors

Filed under: Saab, Earnings/Financials, Spyker

Saab

Around the same time that Ake Jonsson stepped down as chief executive of Saab, the Swedish automaker announced its expansion into the Russian and Chinese markets – a vital move if Saab is to increase its global market share. But it’s not just the cars that Saab and its parent company Spyker are interested in selling in these two giant markets. It’s also looking to offload shares in an effort to raise much-needed capital.

The first address is Vladimir Antonov, a man who shares a considerable history with Spyker. The Russian banker and multimillionaire oligarch was once the company’s largest single shareholder and acted as its chairman, and is also the owner of CPP Manufacturing, to which Spyker sold its own sportscar business. After investigations alleged ties to organized crime, however, General Motors stipulated that Antonov had to leave the company before it would transfer ownership of Saab. Those allegations have apparently now been either disproven or swept under the rug as Antonov has now been cleared by both GM and the Swedish National Debt Office to invest as much as 30 million euros in Saab for a 30-percent stake in the company.

Following that revelation, Saab is also said to be closing in on a deal with a major Chinese carmaker, following a similar path that led crosstown rival Volvo to align itself with Geely following its sale by Ford. Among the manufacturers with which Spyker is reportedly undergoing discussions are the Great Wall Motor Co., China Youngman Automobile Group and Jiangsu Yueda Group, all relatively small players even in China’s domestic market. Even so, they could provide the capital Saab needs to continue operating, and if they can, Saab’s certainly in no position to pick and choose.

Saab closing in on deal with Russian, Chinese investors originally appeared on Autoblog on Mon, 02 May 2011 16:20:00 EST. Please see our terms for use of feeds.

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Saab loses $107 million in Q1, looking for a Chinese partner

Filed under: China, Saab, Earnings/Financials

saab logo

Automotive News reports that Saab lost $107 million during the first quarter of 2011. The automaker says that it is unlikely to meet its 2011 production target of 80,000 units, which is hardly news when considering that the automaker can’t even make vehicles right now. The automaker sold only 9,674 vehicles in the first quarter of this year.

Saab is still looking for funding to jump-start production, and the company is reportedly in talks with three Chinese automakers in hopes of finding a partner. Spyker CEO Victor Muller reportedly said in a statement that Saab is looking for alternatives for funding operations, including “discussions with Chinese car manufacturers.” Bloomberg reports that a deal could be made with one of the companies within the next few days.

[Source: Automotive News – sub. req.]

Saab loses $107 million in Q1, looking for a Chinese partner originally appeared on Autoblog on Fri, 29 Apr 2011 10:59:00 EST. Please see our terms for use of feeds.

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2011 Chinese Grand Prix packs the action into Shanghai [spoilers]

Filed under: Motorsports, China

2011 Chinese Grand Prix

2011 Chinese Grand Prix – Click above for high-res image gallery

After a solid month’s worth of previews, the Shanghai Motor Show will finally open its doors this week. And when it does, it will feature an unprecedented number of world debuts. But as central as the Chinese port city has become to the international auto show circuit, the expo wasn’t the only event of worldwide interest occurring there this week.

Shanghai also played host this weekend to the Chinese Grand Prix, the third race in this year’s Formula One World Championship. And with rivalries so closely contested, it was still anyone’s guess as to how it would unfold. Follow the jump for the full play-by-play.

Gallery: 2011 Chinese Grand Prix

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2011 Chinese Grand Prix packs the action into Shanghai [spoilers] originally appeared on Autoblog on Sun, 17 Apr 2011 08:25:00 EST. Please see our terms for use of feeds.

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Report: Angry Chinese driver tows Range Rover back to dealer with donkeys

Filed under: SUV, China, Etc., Land Rover, Luxury

Range Rover towed by Donkeys

A man in Shenyang, China was reportedly so frustrated with his 2010 Land Rover Range Rover breaking down that he towed it back to the dealer and asked for a full refund. To add a little insult to his heady request, the spurned owner towed the stricken SUV with a pair of donkeys.

Apparently the guy paid ¥2 million (about $304,000) for the English SUV in 2010. Since the purchase, the car reportedly broke down six times and eventually needed a new engine. When it died a seventh time, the owner was apparently at wit’s end. The stunt managed to hammer the point home in a much less destructive manner than a certain Lamborghini owner recently chose. According to Asian auto news outlet TheTycho, the doubtlessly dumbfounded dealer refused to give the customer a refund.

[Source: TheTycho]

Report: Angry Chinese driver tows Range Rover back to dealer with donkeys originally appeared on Autoblog on Tue, 29 Mar 2011 15:58:00 EST. Please see our terms for use of feeds.

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Report: Ford probing worker abuse claims at Chinese supplier

Filed under: China, Government/Legal, Ford

Ford investigates worker abuse in China

Blue collar labor in the U.S. has come a long way in the past century, and Ford Motor Company has been among the leading manufacturers in the fight for hospitable working conditions. But while The Blue Oval is a shining symbol of progress here in U.S., the automaker may have some issues with suppliers in China.

The Detroit Bureau reports that an investigation by The Institute for Global Labour & Human Rights reveals that workers at one of Ford’s Chinese suppliers are being subjected to 14-hour days, seven-day work weeks and dangerous working conditions. And all that for the equivalent of 80 cents per hour. Further, the report claims that supervisors at the plant force their employees to turn off safety equipment so that they can work faster.

And as a result, there have been at least four major injuries according to the report. One worker, who was referred to as “Worker A,” lost three fingers while operating a stamping machine. He received $7,430 for his troubles, compared to $144,000 for a similarly injured U.S. worker. Worker A, like the other injured employees, also lost his job for his troubles. Charles Kernaghan, director of the Institute for Global Labour & Human Rights, is asking that Ford pays about $72,126 to cover the damages for the injured worker.

Ford, for its part, is investigating the claim of worker abuse. The company said in a statement that it takes the situation very seriously, adding “we expect our suppliers to comply with local laws and our Code of Basic Working Conditions.” Head over to The Detroit Bureau for the full report.

[Source: The Detroit Bureau | Image: AFP/Getty]

Report: Ford probing worker abuse claims at Chinese supplier originally appeared on Autoblog on Mon, 07 Mar 2011 17:32:00 EST. Please see our terms for use of feeds.

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Video: Chinese fire truck uses jet-powered water cannon

Filed under: Safety, Technology

Chinese fire truck with jet cannon

Chinese fire truck with jet water cannon – Click above to watch the video after the jump

Fire trucks are cool. With that established, Luoyang City, China’s new $456,000 super-soaker may as well be named Arthur Fonzarelli. This unique fire truck features a jet-powered water cannon with enough grunt to spray four tons of water per minute at distances up to 400 feet. Our friends at Engadget tell us that the water reaches the fire so quickly that it sucks the oxygen out of the area, suffocating the flame. You know what that is? Exactly: cool.

Hit the jump to watch a demonstration of the jet-powered water cannon. It’s not a real fire-fighting scenario, but it’s worth a look nonetheless.

[Source: Engadget]

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Video: Chinese fire truck uses jet-powered water cannon originally appeared on Autoblog on Sun, 30 Jan 2011 19:00:00 EST. Please see our terms for use of feeds.

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Report: Porsche CEO denies Chinese SUV rumors

Filed under: Performance, China, Europe, Crossover, Porsche, Luxury

Porsche Shield

It would seem that some of the rumors surrounding the upcoming Porsche Cajun were greatly exaggerated. Porsche CEO Matthias Müller has announced that his company won’t be producing a new small SUV based off of the Audi Q5 in China or anywhere else, for that matter. Müller said that while the future may force his company to consider moving production of one or more models overseas, right now the automaker will stick to cranking out vehicles in Germany. Previously, Porsche had said that it was taking some time to consider a new manufacturing facility in China – one of the fastest growing car markets on the planet.

Interestingly enough, Porsche hasn’t said that the Cajun is dead all together. Müller simply made it clear that the vehicle wouldn’t be based on any bones currently bumping around the Volkswagen family tree. The vehicle is intended to land just below the current Cayenne and allow younger buyers to jump into the exclusive Porsche brand at a more accessible price point. Early reports have the Cajun landing in show rooms no sooner than 2014.

[Sources: The Truth About Cars, Gasgoo]

Report: Porsche CEO denies Chinese SUV rumors originally appeared on Autoblog on Wed, 26 Jan 2011 18:02:00 EST. Please see our terms for use of feeds.

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Chinese women buying disproportionate percentage of exotic cars?

Filed under: Car Buying, Performance, China, Maserati, Luxury

Maserati GranTurismo

The number of Chinese millionaires is growing rapidly, and women account for a third of that rising, affluent population. This is good news to exotic car manufacturers because wealthy Chinese women are snatching them up like Italian pastries.

Sales of high-end automobiles rose 60 percent last year and analysts are already pegging a 35 percent climb for 2011. Maserati reports that 30 percent of its Chinese sales are to women, compared against just 10 percent for European sales. China is now on track to pass Italy as the automaker’s second largest market.

It’s not just Maserati, either; Ferraris and Lamborghinis are being purchased in large numbers. The wealthy women of China account for 20 percent of local Ferrari sales, which is double the global average. The rise in exotic vehicle sales has even gotten the attention of Bugatti, and the Volkswagen Group is now discussing a potential sales plan for China.
Thanks for the tip, Art!

[Source: Bloomberg]

Chinese women buying disproportionate percentage of exotic cars? originally appeared on Autoblog on Sun, 23 Jan 2011 19:03:00 EST. Please see our terms for use of feeds.

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Too much? Chinese customer orders $670k gilded Fiat 500

Filed under: Convertible, China, Luxury, Fiat

Fiat 500C La Dolce Vita by Fenice Milano

Fiat 500C “La Dolce Vita” – Click above for high-res image gallery, follow the jump for video

The beauty of the Fiat 500 is that it’s loaded with Italian style, but comes cheaper than anything this side of a Vespa. So if you were in the market, how much would you consider spending on a Cinquecento? $20K? Maybe $30k for a fully-loaded Abarth? How about €500,000? That’s equivalent to about $670,000, and stands as the absurd price some anonymous Chinese businessman has apparently paid for a particularly opulent tacky example of the retro minicar.

The order came to Fenice Milano, the Italian studio whose Liberace-grade work we’ve reported on previously. They started with a 500C Abarth convertible, slathered it in paint infused with real 24k gold flakes, decked the interior out in teak, replaced the brightwork with more 24k gold and gave it a diamond-studded iPad docking into the dashboard. And just for good measure, they let Romeo Ferraris have at it. Their tuning jacked the stock 140-horsepower engine up to 200 hp, and they added Brembo brakes and a custom suspension for good measure.

The end result is about as nauseating an example of nouveau-riche excess as you’re likely to find. If the owner thinks that by tying in his investment to a solid commodity like gold to stave off the negative effects of depreciation, he may be in for a rude awakening come resale time. Check out the video footage after the jump and the updated high-resolution image gallery below.

Gallery: Fiat 500C “La Dolce Vita” by Fenice Milano

[Source: Fenice Milano via CarScoop]

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Too much? Chinese customer orders $670k gilded Fiat 500 originally appeared on Autoblog on Sat, 22 Jan 2011 10:05:00 EST. Please see our terms for use of feeds.

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