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Geely and Dongfeng denied bidding for GM Saab

220  240x240 saab logo Geely and Dongfeng denied bidding for GM Saab

Geely and Dongfeng said on Wednesday that they have not held any talks over a possible bid for General Motors’ Saab brand, reported by Reuters.

A Dongfeng spokesman added he was unaware of any interest by his company in bidding for the Saab brand. And a senior Geely executive, when asked about his company’s possible acquisition of Saab or other brands, told reporters: “No, we did not. We’re not interested in Saab or the other brands out there.”

Sources with direct knowledge of the process told Reuters on Tuesday that the Saab brand of GM had received interest from several potential bidders, including Geely and Dongfeng.

Media reports have also said Geely was in preliminary talks with Ford Motor about the sale of the U.S. automaker’s Volvo car unit, although a Geely spokesman said yesterday they had no plans to buy Volvo.

So are Geely after Volvo, or is it SAAB today, or perhaps both?

source: Reuters

Government push automakers to buy overseas rivals?

212  h=x volvo 3 Government push automakers to buy overseas rivals?

Chinese automakers has been warned by government many times to acquire assets from struggling overseas rivals, Shanghai Securities News reported on Monday.

“Chinese automakers are not strong enough to participate in cooperation with big global players, ” said Chen Bin, head of the industry co-ordination department of the National Development and Reform Commission of China.
The report added that Chinese automakers Geely, Changan, and Chery have been approached by many overseas rivals in recent months.

Chery said last month it would not rule out the possibility of buying a troubled European auto brand, while Changan and Dongfeng are expected to place indicative bids for Volvo Cars in April, according to Reuters.

source: Shanghai Securities News

Dongfeng Coupe to produce, another Porsche Cayman?

dongfeng coupe Dongfeng Coupe to produce, another Porsche Cayman?

dongfeng coupe1 Dongfeng Coupe to produce, another Porsche Cayman?

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