Nissan to boost China production by 30%
Nissan has earmarked $900M for increasing their production capacity in China. They plan a new factory in Wuhan together with JV partner Dongfeng. Also existing facilities are to be expanded. Nissan is looking to grow their China business by 30%, including new energy vehicles.
Battery production by CATL & Dongfeng JV kicks off
Construction of a battery factory owned by both CATL and Dongfeng is complete. The facility of Dongfeng Amperex started production in Wuhan. Here they aim to reach a capacity of 9.6 GWh worth of batteries on three manufacturing lines from 2019.
Geely now largest shareholder of Daimler
China’s Geely has bought almost ten percent in Daimler shares, thus becoming the company’s largest shareholder. Geely founder Li Shufu said in a statement he is “particularly pleased to accompany Daimler on its way to becoming the world’s leading electro-mobility provider.”
Geely interested in Daimler stock
The rumors have turned out to be true: Chinese vehicle producer Geely has revealed their strategy through an insider, who spoke to Reuters. Apparently the Chinese producer aims to purchase some of Daimlers’ battery technology through the acquisition of company stock.