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BAIC Group Thinks Beyond Carmaking to Drive Business CHINA DAILY | HONG KONG EDITION Monday, August 5, 2019 MOTORING | 19 Short Torque BAIC Group thinks beyond High-tech plant revealed gets. Net profit at BMW fell 28.7 per- Geely’s high-end arm Lynk & Co cent compared with a year earlier in organized a media tour of its 12.5 the April-June period to 1.5 billion billion yuan ($1.8 billion) factory in euros ($1.7 billion). Chief executive Zhangjiakou, Hebei province last Harald Krueger said BMW was carmaking to drive business week. With an annual capacity of investing in the development of all- 200,000 units, the plant is produc- electric, hybrid and fuel cell vehicles, ing three models, including the as well as upgrading traditional Financial services, investment and supply industries helping boost development Lynk & Co 03 + launched on Friday. internal combustion engines. BMW Executives said the plant was built reported increased demand for its i3 in accordance with Volvo standards compact car and said five all-electric By LI FUSHENG as the brand is co-owned by Volvo models are to be released over the [email protected] and Geely. Among others, its weld next two years. An all-electric variant workshop has 285 world-class of the Mini is to begin rolling off its China’s BAIC Group is planning to robots. The company also has a Oxford, UK, production line in step up efforts in non-vehicle making training academy at the plant, November. businesses amid changes in customer where new workers will be trained preferences about mobility and the through its simulated working envi- Toyota faces lawsuit downward pressure in the overall ronment. Australian lawyers filed a class-ac- automotive market, according to the tion lawsuit against Toyota on Thurs- top executive of the State-owned car- day, claiming some models of the maker. carmaker’s top-selling Hilux, Prado BAIC Chairman Xu Heyi made the and Fortuner vehicles were fitted remarks in an interview last week with defective parts. Banister Law, when the group released its sales fig- together with Gilbert + Tobin, filed ures and launched its BJ 40 series off- the suit in the federal court alleging roaders, retailing from 164,900 to some vehicles were fitted with defec- 204,900 yuan ($23,795 to $29,567). tive diesel particulate filters meant to The group sold 11.1 million vehicles trap and burn soot from the engine. in the first half of this year, down 7.8 The lawsuit is filed on behalf of cus- percent year-on-year, but 4.6 percent- Trucks boost GM sales tomers who purchased the cars age points better than the industry Strong demand for high-end between Oct 1, 2015, and July 26, average of a 12.4 percent fall. A music band performs at the launch ceremony of the BJ 40 series off-roaders last week. trucks in North America boosted 2019. It seeks compensation for the Despite the drop in sales, the PROVIDED TO CHINA DAILY General Motors’ earnings, offsetting alleged loss and damage suffered by group’s operating revenue increased 6 lower car sales, especially in China, the group, the statement said, with- percent to 246.45 billion yuan, which the company announced Thursday. out giving details on the amount. pushed profit up 4.4 percent year-on- also emerging as a promising growth tive industry. Hainachuan has The biggest US carmaker reported year. engine. Established in early 2017, half research and development facilities in slightly higher second-quarter prof- Ex-Audi boss charged Xu said this is the result of the car of its businesses are already generat- Asia, Europe and North America. It its. They highlighted the launch of The former head of Volkswagen- group’s efforts to shift its focus from ing profits, Xu said. has some 60 subsidiaries, including upgraded pickup truck models owned Audi has been charged with sales to quality development. Designed as an integrated travel 19 plants outside of China. It has also aimed at the American market, fraud in Germany over the sale of “Vehicles will remain the mainstay service platform, its businesses partnered with international suppli- where the economy is strong and cars with software that enabled of our business for quite a long time to include taxis, car-hailing, shuttle bus- ers including ZF, Hella and Magna. demand has held up. The result was cheating on emissions tests, prosecu- come, but as customers and the mar- es, car leasing, charging poles, avia- Xu said BAIC may work with its a record average price of $37,126 in tors said on Wednesday. Prosecutors ket are changing, we want to foster tion and catering services. partner Daimler to explore non-vehi- North America in the quarter. This in Munich said they charged Rupert non-vehicle making segments so that A subsidiary, Beijing Travel, has cle business as well. BAIC is Daimler’s boosted operating income in the Stadler and three others with fraud, they can contribute more to us,” he We are discussing to become one of China’s largest vehicle third-largest shareholder, with a 5 region even as the number of vehicles false certification and criminal said. service providers. percent stake in the German compa- sold in the quarter fell. GM has also advertising. It adds another chapter One such segment is the group’s expand our The largest revenue generator of ny. cited lower costs following a reorga- to the Volkswagen diesel scandal that financial services, which is probably cooperation to other BAIC’s non-vehicle businesses is Bei- Their joint venture has been pro- nization announced in late 2018. It also led to charges in the United the result of Chinese customers’ grow- jing Hainachuan Automotive Parts. ducing Mercedes-Benz vehicles in cut thousands of jobs and closed fac- States and Germany against Volks- ing acceptance of loans in car pur- business segments.” The 11-year-old company had an oper- China. tories, drawing criticism from politi- wagen’s former CEO, Martin Winter- chases. Xu said although the absolute ating revenue of 58.8 billion yuan last “We should not limit ourselves to cians from across the political korn. Prosecutors alleged Stadler Xu Heyi, chairman of BAIC volume is not very large, financial ser- Group year. car manufacturing anymore,” Xu spectrum. knew about the manipulation in vices are making a bigger contribu- One of the country’s fastest grow- said. “We are discussing to expand Audi and Volkswagen cars but tion to the group’s quality and profit- ing suppliers, it has a rich portfolio of our cooperation to other business Profits sink for BMW allowed the sale of models. The accu- centered development. Specializing in sales, maintenance, products ranging from interiors and segments.” On Thursday, German luxury car- sations relate to 251,000 Audi vehi- He said Rocar is another pillar of its parts, logistics, auction, car leasing as exteriors, to chassis and power sys- He said one example is a joint bat- maker BMW reported slumping sec- cles, 71,500 Volkswagen cars, and non-vehicle segments. well as advertisement, its sales reve- tems. Xu said the company will focus tery test facility that Daimler and ond-quarter profits. Expensive 112,000 Porsches, sold in the US and The investment and management nue last year exceeded 50 billion yuan. more on electrification, lightweight BAIC’s new energy vehicle arm BJEV investment in electric cars sapped Europe. platform is part of BAIC’s auto service Xu said Rocar is preparing itself to materials and smart connectivity to have built. They will explore other the bottom line, but BMW remained and trade business. go public soon. BAIC Mobility Co is keep up with changes in the automo- possible cooperation as well. confident of hitting its financial tar- MOTORING - AGENCIES Greater Bay Area daily newsletter Hong Kong Edition GBA GBAPulse Why should you subscribe the GBA Pulse daily newsletter? Because it ● offers you an exclusive coverage on the Greater Bay Area ● keeps you informed about fresh opportunities in the 11-city cluster News at your fingertips ● updates you on innovation, technology, fintech in the vibrant economic engine ● broadens your perspectives on local topics ● gives you a break from the heavyload stress of major daily events Subscribe Now >>.
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