Changan Acquires AVIC Units to Become 3rd Largest Automaker in China
Green Car Congress
NOVEMBER 11, 2009
The state parent of China’s Chang’an Automobile Group is taking over five vehicle units of the Aviation Industry Corp of China (AVIC) to create the third-largest automaker in China. China Ordnance Equipment Group, Chang’an’s parent, will transfer a stake in Chang’an Auto to AVIC in exchange for AVIC’s ownership share of minivan maker Harbin Hafei Automobile Industry Group, Changhe Automobile, engine maker Dongan Power, Changhe Suzuki and Dongan Mitsubishi.