Chinese State-Backed Carmakers Announce Deal Amid Industry Consolidation Push
By Jiahui HuangState-owned China FAW Group is planning to take a stake in fellow carmaker Guangzhou Automobile Group under an asset-restructuring deal, underscoring Beijing's push to consolidate the auto industry after years of rampant growth.Guangzhou Automobile, or GAC, said it signed a prelimina…
This is a real-time flash headline. A verified provider body is not available, so SquawkNews does not present it as a full article.