Officials of BMW and Tencent at an event to announce the partnership in Beijing on Friday. Reuters
BMW and its partner Great Wall Motor said they plan to build a plant in China with a capacity of 160,000 cars per year, and which will produce BMW’s electric Mini brand and Great Wall Motor models.
Germany’s BMW will recall 360,000 vehicles in China as part of the worldwide effort to root out defective airbags made by now-defunct Japanese supplier Takata, regulators in Beijing said.
Auto sales in China fell for a 15th consecutive month in September, data from its biggest auto industry association showed, dampening hopes for a second-half turnaround in the world’s largest auto market.
Japan’s fourth quarter GDP shrinks much faster than expected and its economy shrank at the fastest pace in almost six years in the December quarter as a sales tax hike hit consumer and business spending,
General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thailand plant in the latest restructuring of its global business, costing the US auto maker $1.1 billion.
Gold prices on Monday eased from a near two-week high, as a monetary policy intervention by China’s central bank to limit the economic impact from the coronavirus outbreak reassured investors and boosted demand for higher-risk assets.