Word: makers
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...vehicles last year; many of the underpowered and unattractive cars were bought by local taxi companies on the order of provincial officials looking for a captive market. But even that didn't dismay factory managers trying to cash in on China's booming car market. In February, BYD, a maker of lithium batteries in Shenzhen in southern China, bought the Flyer factory. Although the new owner has no experience making cars, it still plans to invest a war chest raised on the Hong Kong Stock Exchange to build a new facility that will start producing four models of Flyers...
...margins until only a few of the largest now compete. Today one of the new hot zones is autos; sales are accelerating, and margins can be fat. "It's too hard to make money from washing machines now," complains Zhao Yong, a director of Guangdong-based Midea, an appliance maker that plans to buy a bus factory near the China-Burma border. "So we'll start making buses and move into sedans." Others, often with no previous experience in auto manufacturing, have devised similar strategies. Sanxing Aux, producer of China's cheapest air conditioners, last fall announced it had purchased...
...plans to increase total production 50% in the next two years. In a first for the country, Beijing recently announced it will allow GM to import cars made overseas without going through a Chinese partner. Ford plans to increase production sevenfold, to 150,000 cars a year. Volkswagen, maker of the best-selling cars in China, plans to invest $6.5 billion with its joint-venture partner to double annual capacity at its Shanghai plant to a million cars...
...have signed exclusive deals with Volkswagen's joint venture. More recently, Chery has run afoul of GM by releasing a car, called the QQ, that looks almost exactly like a GM model--the Spark--that didn't hit the Chinese market until December. PSA Peugeot Citroen, the French maker of the successful Citroen sedan in central China, faces a similar problem. A local producer called Shanghai Maple introduced a model that looks startlingly like the Citroen: same body, same interior, even the same way of tooting the horn from the turn-signal toggle. "It's exactly the same...
...foreign and domestic manufacturers, which together can produce twice the number of phones currently sold in China annually. As inventories quadrupled in the first half of 2003, prices fell 20%, according to research firm IDC. Yet more companies are crowding in. Huawei Technologies, China's largest telecom-equipment maker, announced late last year that it is launching its own cell phones on the mainland...