China Will Scrap Foreign Ownership Limits On Automakers By 2022!
China will end foreign ownership caps on local auto companies by 2022 and will remove restrictions on new-energy vehicle ventures this year, a major shift that will open the market wider to carmakers such as Nissan and Tesla. The country will remove limits on companies making full electric and plug-in hybrid vehicles in 2018, commercial-vehicle companies in 2020 and the wider passenger vehicle market by 2022, China's state planner said in a statement. The move, which comes am
Honda Motor Co.’s joint venture with China’s Dongfeng Motor Corp. plans to hire 2,200 workers.
Honda Motor Co.’s joint venture with China’s Dongfeng Motor Corp. plans to hire 2,200 workers this month to boost vehicle production and keep pace with fast-growing sales, the Nikkei news agency reported. The new employees will allow the partnership to maintain weekend output, according to Nikkei. Dongfeng Honda has 10,000 employees. With sales rising, employees are working overtime to ramp up production. The joint venture assembles the Civic, Spirior, Jade, Geriz and G