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GlobalData
Wed, Apr 2, 2025, 2:56 AM 1 min read
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Chinese state-owned automakers Dongfeng Motor and Chongqing Changan Automobile Company are successful precocious talks to merge their operations, reported The New York Times, citing radical acquainted with the matter.
The discussions, involving elaborate plans for combining the companies, person been communicated to their overseas partners.
Dongfeng is valued astatine $4.89bn and Changan Automobile astatine $15.65bn, according to information compiled by London Stock Exchange Group (LSEG).
This improvement follows discussions from February, erstwhile the 2 companies were understood to beryllium considering a merger to make a stronger entity.
This determination aligns with China's strategy to promote state-owned automakers to go much self-reliant, peculiarly successful the tract of caller vigor vehicles.
Changan Automobile encompasses brands specified arsenic Chang-An, Deepal, Avatr, and associated ventures similar ChangAn Ford, ChangAn Mazda, and JMC.
The institution precocious held a European motorboat event, announcing its volition to participate astatine slightest 10 determination markets successful Europe by the extremity of the year.
It aims to merchantability 3 cardinal vehicles this year, with a people of 5 cardinal units annually by 2030.
Adding to its planetary enlargement efforts, Changan Automobile announced successful January a concern with Kim Long Motor to physique a caller conveyance manufacturing works successful Hue, Vietnam.
The installation is acceptable to nutrient Kim Long Changan Vietnam 5 to 7 seater rider vehicles.
Changan Automobile Group vice-president Wang Hui said: “This collaboration with Kim Long Motor Hue marks a important measurement successful Changan Automobile’s globalisation strategy, and volition service arsenic an important starting constituent for Changan Automobile’s introduction into the Vietnamese market.
"Dongfeng and Changan beforehand merger talks" was primitively created and published by Just Auto, a GlobalData owned brand.
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