Beijing Auto builds R&D base

Beijing Automotive Industry Holding Co. (BAIHC) announced that it will spend RMB1.68 billion (US$246.12 million) to build an engineering base which would help speed up development of self-branded and clean energy vehicles. The facility, covering 158,000 square meters in the Shunyi district of Beijing, China, is expected to boost Beijing Auto’s technology innovation and enhance research and development in self-branded vehicles. Meanwhile, media reports said BAIHC is in talks to acquire the Fujian Motor Industry Group. It had reportedly approached Fujian Motor and its major passenger car subsidiary Southeast Motor Corp. last year for the potential acquisition. (February 19/20, 2009)