Reported by Economic Observer, Beijing Automotive Industry Co(BAIC) is now preparing to buy Chongqing Lifan, an Automotive company located in south-west of China.

Lifan’s president said that Lifan Auto welcomes partnership negotiations with any automotive companies to retain Lifan’s own brand. The president didn’t reveal any details of the talk but said that Lifan Auto is always open for any acquisitions.

[source: Economic Observer]

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Beijing Automotive Industry Co. (BAIC) today denied media reports it has been talking to Chrysler LLC about purchasing certain assets or technology.

A report appeared in the Chinese Business News, which cited an unnamed Beijing Auto executive as its source, said BAIC was interested in buying some of Chrysler’s manufacturing facilities as was looking to the Beijing city government for financial support.

Chrysler was part of a joint car venture between BAIC and DaimlerChrysler, but pulled out of the agreement after Daimler sold Chrysler to Cerberus in 2007. The Chrysler 300C sedan is still made at the venture.

In December, Chinese newspaper Securities Daily reported that Anhui-based Chery was going to buy assets from Chrysler for its overseas expansion, backed by a 10 billion yuan ($1.46 billion) loan from the Export-Import Bank of China. Both Chery and Chrysler denied the rumor.

source: auto.163

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Beijing Automotive Industry Co, a Chinese automaker, the parent of truck-maker Beiqi Foton Motor Co and Chinese partner of Hyundai Motor and Daimler AG, is interested in buying some of Chrysler’s vehicle and engine manufacturing facilities as well as technology to help boost its development of its own brand of automobiles.

Although talks are on going between the two auto makers, it seems that BAW are feeling confident about their planned purchases.

source: auto.163

See also:

• BAIC: We are not to buy Chrysler! (0)
• Breaking: BAIC to aquire Lifan Auto? (1)