Autos Sector Consolidation Begins In Earnest

The Chinese automotive industry has reported its largest merger deal in recent years, after Changan Automobile Group announced the acquisition of two carmakers from the Aviation Industry Corporation of China (AVIC). Changan Automobile will acquire Harbin Hafei Automobile Industry Group and Jiangxi Changhe Automobile from the national aircraft manufacturer and merge them into the Changan group. The deal also includes the integration of Changhe Auto's joint venture (JV), Changhe Suzuki Automobile, with AVIC's parts unit, Harbin Dongan Auto Engine, and its JV Harbin Dongan Mitsubishi Automotive Engine

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