Caixin
Oct 15, 2018 06:36 PM
BUSINESS & TECH

China Automakers Deflated by Reliance on Foreign Partners

Workers at SAIC-GM-Wuling Automobile conduct a final inspection of a new energy vehicle at the joint venture’s Qingdao factory on Sept. 28. Photo: VCG
Workers at SAIC-GM-Wuling Automobile conduct a final inspection of a new energy vehicle at the joint venture’s Qingdao factory on Sept. 28. Photo: VCG

Shares of Chinese carmakers that rely heavily on foreign joint ventures dropped sharply on Monday, following signs that such firms may soon lose control of those ventures under relaxing ownership rules from Beijing.

A third consecutive month of falling car sales in China in September, combined with broader market weakness, further stoked the sell-off, which saw shares of many of the nation’s best-known names slump as much as 7%.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.