Two of China's major car manufacturers have merged to create Guangzhou-Changfeng Auto, with the goal of producing 500,000 cars per year.
Guangzhou Auto has bought a controlling 29 per cent of Changfeng Motors. Changfeng Motor Group is the second biggest shareholder in the company, holding 22 per cent of the shares.
The deal will add sport-utility vehicles to Guangzhou Auto’s product line-up, which already includes cars made through ventures with Toyota and Honda.
Analysts s...
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