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Automakers benefit as domestic sales soar: Automobile manufacturers continued to benefit from brisk domestic sales in November, as General Motors (GM) led the industry in releasing higher figures on Thursday. GM, which recovered from last year's bankruptcy protection crisis thanks, in part, to its prosperous business in ...

PCM acquires GM's parts-supplier unit: Pacific Century Motors (PCM), a joint venture between Tempo Group and the Beijing municipal government, completed the acquisition of General Motors' steering-parts manufacturing unit on Tuesday, setting a record for the biggest single overseas purchase in China's automobile parts ...

Volvo to recall 18,848 vehicles over defects in China: Volvo and Changan Ford Mazda Automobile Co. said they would recall 18,848 vehicles in China beginning Monday to repair problems that might pose safety problems. The recall will cover Volvo XC60, C30 2.0, S40 and S80L models in China due to airbag, software, and cooling system ...

Beijing to offer electric, hybrid car subsidy: Beijing will promote the use of 30,000 electric and hybrid cars, build 100 recharging stations and provide 36,000 rechargers by the end of 2012, People's Daily reported Monday, citing the Beijing Municipal Science and Technology Commission. A pilot subsidy plan for individuals' ...

Lifan IPO latest in quest for capital: Lifan Industry Group Co became the first non-State-owned automaker to be listed on the A-share market when its shares began trading on the Shanghai Stock Exchange on Nov 25. The Chongqing-based maker of motorcycles and automobiles started preparations for its initial public ...

U.S. spill accident rings alarm for oil companies: BEIJING, May 31-The gushing well in the Gulf of Mexico has so far spewed 18 to 40 million barrels of oil into the ocean since it exploded a month ago. The hope of plugging the damaged oil rig soon seemed very slim. The accident has dealt a heavy blow to fishery, tourism and ...

Hyundai Motor begins to build third China plant: South Korean auto maker Hyundai Motor on Sunday started building its third China plant in Beijing, intended to meet rising demand after the firm's two existing Beijing plants exceeded their production capacity this year. The plant, with an investment of 6.5 billion yuan (975 ...

BP launches new attempt to plug leak: BEIJING ,June 1-BP has launched a new attempt to contain the oil leak in the Gulf of Mexico, a day after its complex "top kill" maneuver failed. The latest plan aims to capture most of the oil on the sea floor and channel it to the surface for collection. BP warns that the new ...

Ford to add 100 new dealerships in China: Ford Motor is adding 100 new dealerships in China this year, raising its total number of outlets to 340, as it courts new car buyers in provincial cities. Like other major auto makers, Ford is looking to emerging markets for growth lost in the United States and other traditional ...

White House says BP's new operation to start soon: May 30-President Barack Obama was briefed by administration officials and discussed BP's efforts to put machines into place that will be used to cut the well's riser pipe so a containment device can be used to try to siphon off most of the leaking oil and gas up to a tanker ship ...

New car numbers surge in Beijing last week: Beijing saw 18,000 new cars, or about 2,571 per day, on roads in the past week, said sources with Beijing Traffic Management Bureau Wednesday. The increase was nearly 50 percent higher than the daily average of 1,900 new cars on the roads for the first three quarters of the year. ...

WRAPUP 13-BP oil plug plan proceeds, Obama fights criticism: WASHINGTON/VENICE ,May 27-BP Plc (BP.L) said its high-stakes bid to plug a gushing Gulf of Mexico oil well was proceeding to plan on Thursday, while U.S. President Barack Obama fended off criticism he has been too slow to respond to the worst oil spill in U.S. history. Nearly 40 ...

Shanghai GM's annual auto sales to top 1m units: Shanghai General Motors Co Ltd's (Shanghai GM) auto sales may reach 1.02 million units -- a new high -- this year, China Business News reported Monday. Shanghai GM is a joint venture between General Motors Corp (GM) and Shanghai Automotive Industry Corporation (SAIC). The two ...

Gulf oil spill threat widens: May 31-Government and BP officials are warning that the blown-out deepwater well feeding the catastrophic spill may not be shut off until August as the company begins preparations on a new but uncertain attempt to contain the leaking crude. On Tuesday, President Barack Obama will ...

More int'l cooperation urged to develop China's electric car industry: An official with the Ministry of Industry and Information Technology (MIIT) Monday urged domestic and foreign firms to strengthen cooperation to develop the country's electric car industry. It was China's policy to encourage more foreign firms to increase cooperation with Chinese ...

Oil climbs above $74, ending worst month since 2008: May 31-The euro rose modestly against the dollar and Asian and European markets edged higher, but they remained under pressure following Fitch's downgrade of Spain's credit rating on Friday. Chinese Premier Wen Jiabao on Monday underlined the possibility of more bad news to come, ...

Toyota rolls out wholly owned research center: Toyota Motor Corp founded its first wholly owned R&D unit in China on Nov 17 to strengthen its localization in the country. The facility by newly established Toyota Motor Engineering & Manufacturing Co Ltd (TMEC) in Changshu near Shanghai will begin partial operations in the ...

Ford not top stakeholder in Mazda: Ford is reducing its stake in Japanese auto maker Mazda to 3.5 percent from 11 percent, giving up the position of top stakeholder it has held for 31 years. But both Mazda Motor Corp and Ford Motor Co said yesterday their partnership will continue in developing cars together and ...

Methanex restart of Canadian methanol plant likely in 2011: TORONTO ,May 28-Methanex is likely to restart its mothballed 470,000 tonne/year methanol plant at Medicine Hat in Canada s Alberta province in early 2011 due to favourable feedstock natural gas prices, an analyst said on Friday. With North American gas prices remaining around $4...

Farmers slowly cultivate a new image: BEIJING - Vehicles of all shapes and sizes jockey for position under the early morning sun, their drivers honking their presence in a cacophony of apparent chaos. Plump red tomatoes, lurid green cabbages and slender sticks of celery are just some of the produce being loaded and ...

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Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

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Li Na wins French Open women's singles title: History-making tennis legend Li Na notched the first-ever grand slam ...

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