China has reported the possible emergence of the new largest automaker in China
Chinese state-owned automobile companies Dongfeng Motor and Changan Automobile may merge. As a result, a new major automaker will emerge in China, which will surpass BYD in terms of sales. This is reported by the South China Morning Post on February 10.
At the Shenzhen Stock Exchange, representatives of both companies said that their controlling shareholders are considering asset transactions that could lead to changes in the ownership structure. They did not go into details, the note said.
Industry experts said the Chinese government may encourage consolidation in the auto sector as intense competition has formed in the market. If the restructuring takes place, it will be a big step toward industry consolidation and will be of great significance to China's auto industry in the long term, they said.
Dongfeng delivered 2.48 million vehicles in 2024, while Changan delivered 2.68 million units. At the same time, BYD, the world's largest electric car maker, sold 4.27 million cars.
Earlier in the day it was reported that electric cars of Xiaomi Auto may officially appear on the Russian market. Now its models can be sold in Russia only through the "gray" channel to individuals without system technical support, regular software updates and official warranty.
On February 7, it became known that in Russia may begin production of cars of the Chinese concern Changan. The company is negotiating the possibility of launching contract assembly at the plant "Avtotor" in Kaliningrad.
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