Fisker Looks for Strategic Partners in China, Hasn’t Built a Car in Six Months

The Karma might look gorgeous but things aren’t looking very good for its maker, Fisker, right now. In 2012, despite having delivered some 2,000 Karmas, it’s had its federal loan frozen, issued a number of recalls on the Karma, saw its battery supplier, A123 Systems, go bankrupt and 16 of its cars being destroyed by hurricane Sandy and, to top it all, it hasn’t built a single car in the past six months.

So the company is looking for partners and investors. And what better place to turn to than a country that wants to acquire high-end EV technology? That would be China; according to a report from Reuters, Fisker’s top executives are trying to find a strategic partner that would help them get things started again.

Read more »

Chinese-Israeli Qoros Brand to Debut GQ3 Cross Hybrid and Estate Concepts in Geneva

Newly formed automobile brand Qoros has shared fresh information about its presence at the upcoming Geneva Motor Show in the beginning of March.

Besides the world premiere of its first production model, the GQ3 compact saloon, Qoros will also display two new concept models named the Cross Hybrid Concept and Estate Concept, both of which are based on the sedan.

"Intelligent modular vehicle platform technology allows us to create new vehicle concepts quickly and efficiently," commented Vice Chairman of Qoros Auto, Volker Steinwascher. "The Qoros GQ3 is the first of many models that will be based on this platform, and the technology will allow us to develop a complete model family in a very efficient manner."

Read more »

China's GAC Group Shows Off its Goods, Announces Chrysler Tie-Up at 2013 NAIAS

Towards the end of the previous decade, we remember several Chinese automakers making their way to the Detroit Auto Shows vowing to begin selling cars in the United States. Unless we missed something, that never happened.

At this year's event, the only carmaker from China is the GAC Group (Guangzhou Automobile Group Co. Ltd), which brought along three vehicles, including the Trumpchi sedan that's loosely based on the Alfa Romeo 166, the Trumpchi GS5 SUV and the electric-powered E-jet concept saloon you see in the live shots from Detroit.

Read more »

Chevy to Display 5 Global Offerings in Detroit, Would You Like to See Any Coming to the US?

Undeniably, the big stars at Chevrolet's North American International Auto Show (NAIAS) booth will be the seventh generation of the Corvette and the all-new Silverado pickup truck.

However, GM's best-selling brand will also showcase some of its global offerings sold in other markets outside the United States.

Read more »

VW’s Budget Brand Ready to Launch with 3 Family Cars, Supermini and Possibly an SUV

One would think that 12 brands, which are currently owned by Europe’s number one and the world’s number three automotive group, would be enough. Apparently, they are not: VW Group executives must have had their fingers crossed behind their backs when they recently vowed to put an end to their brand shopping spree.

While VW is not going to buy another carmaker yet (as far as we know, at least) it is getting ready to launch a new global budget car brand that will compete with the likes of Dacia, Lada and Chinese companies like Geely.

It’s a shrewd move by the Germans as, by the end of 2012, entry-level cars costing up to €10,000 (US$13,000) will account for a global sales volume of 13 percent, or 8 million units.

Read more »

Saab’s New Owner NEVS Announces US$300 Million Chinese Investment Deal

Things have been conspicuously quiet for some time now as far as Saab is concerned; especially considering the shenanigans that the Swedish carmaker has been involved in the past two years.

Now, Saab is making headlines again as its new owner, National Electric Vehicle Sweden AB (NEVS) that acquired many of its assets when it went bankrupt last year, announced that it has signed a deal with the Chinese city of Qingdao.

Read more »

China Investment Fund Reportedly Interested in Acquiring a 4-10 Percent Stake in Daimler

The China Investment Corp. fund may acquire a stake at Daimler AG, the parent company of Mercedes-Benz, according to a report posted on China's state-run People’s Daily website.

The report, which was absent from the print edition of the Chinese news agency, cited an unidentified Internet posting claiming that the fund was interested in acquiring a holding between 4 and 10 percent in Daimler.

Read more »

Audi Sells More Than 400,000 Cars in China for the First Time in 2012

The brand with the four rings set a new sales record in the Chinese market last year delivering 405,838 vehicles in China and Hong Kong, representing a 29.6 percent increase over the previous year.

Of the 400,000 vehicles sold, 322,700 were built locally, including 89,488 examples of the Q5 SUVs (+64.9 percent), 132,872 A6L sedans (+17.3 percent) and 100,340 units of the long wheelbase version of the A4 (+18.7 percent), with the rest being imported from Europe.

Read more »

China Poised to Overtake Europe as the World's Biggest Car Producer in 2013

Even if Europe wasn't experiencing economic and structural problems that have deeply affected the domestic car industry, it would only be a matter of time before China with its growing economy and massive population overtook the Old Continent as the world's biggest automotive producer.

However, with Europe in a deep recession, it's just going to happen faster than we thought.

In fact, according to projections made for the Financial Times by five forecasting groups, including IHS, LMC Auto and PwC consultancies along with investment banks UBS and Credit Suisse, China will produce more vehicles than Europe this year for the first time ever.

Read more »

China's BYD Wants to Build All-Electric Busses in the U.S.

The Chinese maker of all-electric vehicles that gained a lot of attention in 2008 when investor Warren Buffett bought a 10 percent stake in BYD for$230 million, is now actively looking to build an electric-bus assembly plant in the States.

Micheal Austin, vice president of BYD America, broke the news to WardsAuto, adding that the company has not yet decided on the location for the plant. "Clearly, there are a lot sensitive negotiations that must go on before any of that happens," said Austin.

Read more »