Chinese Carmakers Merge to Take on Multinationals – Jason Subler and Shen Yan

From Guardian Unlimited:

China’s largest carmaker SAIC (Shanghai Automotive Industry Corporation) and its smaller rival Nanjing Automobile, which owns the MG Rover brand, yesterday confirmed their long-expected merger, creating a national car group that aims to rival big multinationals.

Separately, Italy’s Fiat agreed to sell its 50% stake in its loss-making passenger car venture with Nanjing to the Chinese firm, ending a strained relationship…[Full Text]