The expanding Chinese marketplace is pushing some of the country’;s domestic automakers to search outdoors the People’;s Republic as a signifies of gaining prominence and influence across the globe. This has surely been the case with Volvo, which was snapped up by Geely. Much more latest examples consist of Dongfeng and its investment in PSA Peugeot Citroën.
We last reported on Beijing Automotive, greater acknowledged as BAIC, back in November, when we told you that Daimler was set to acquire a 12-percent stake in the state-owned producer (you can see chairman Xu Heyi with Daimler bigwig Dieter Zetsche over). Now, BAIC is looking to make moves again, contemplating targets for a prospective takeover bid.
Dong Haiyang, BAIC’;s head of worldwide expansion, mentioned the firm has “candidates” in thoughts. We previously reported on the company’;s European prospects, but BAIC is now taking into consideration American companies for the initial time. In accordance to Reuters, the BAIC rep informed a media briefing that snagging a foreign brand would serve as a shortcut to introducing BAIC in outside markets.
As for what brands are becoming regarded as, Dong would only say that “mid to-substantial-end [brands]” were targeted. That isn’;t going to imply there are not a suitable number of organizations ripe for takeover by an ambitious, Chinese upstart. Which is in which you come in. What “mid to higher-end” producer could a fairly properly-off Chinese outfit acquire? Let us know what you feel in Comments.