Business Digest, December 10, 2012
Toyota Motor, the world's largest carmaker, was set to delay the launch of a new line at its factory in Tianjin because a decline in its Chinese sales was likely to continue, Japan's Asahi newspaper reported.
Toyota Motor, the world's largest carmaker, was set to delay the launch of a new line at its factory in Tianjin because a decline in its Chinese sales was likely to continue, Japan's Asahi newspaper reported. The company had hoped to complete its fourth production line at the plant, with an annual capacity of 200,000 vehicles, in December 2014. Reuters
China's largest maker of car parts has won a politically sensitive auction for A123 Systems, a bankrupt producer of batteries for electric cars that was funded partly with US government money. Wanxiang Group's bid of about US$260 million topped a joint bid from Johnson Controls of Milwaukee and Japan's NEC for the maker of lithium-ion batteries. Siemens of Germany also qualified to bid, said two people familiar with the process. Reuters