Monday May 12, 01:07 AM
Beijing Automotive in talks to develop cars under own brand - report
BEIJING (XFN-ASIA) - Beijing Automotive Industry Corp is in talks with joint venture partner Daimler (Frankfurt: A0STY7 - news) -Benz for assistance in developing cars under the Chinese company's brand, the South China Morning Post reported, citing a central government economic planner.
Li Gang, an official with the National Development and Reform Commission who oversees the vehicle industry, said on the sidelines of a conference that the government is encouraging such tieups with global carmakers, adding that 'other carmakers should follow.'
Beijing Automotive is the German automaker's 50-50 local assembly partner.
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