BEIJING (Reuters) -Changan Automobile has begun operating as an independent automaker controlled by China’s central government, state television CCTV reported on Tuesday. The spin-off from state-owned China South Industries Group Corp was established in Chongqing on Tuesday. With 117 subsidiaries, the restructured new automaker will focus on smart vehicles, robots, flying cars and embodied intelligence, […]
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China’s Changan restructured as independent state-owned automaker, CCTV reports
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BEIJING (Reuters) -Changan Automobile has begun operating as an independent automaker controlled by China’s central government, state television CCTV reported on Tuesday.
The spin-off from state-owned China South Industries Group Corp was established in Chongqing on Tuesday.
With 117 subsidiaries, the restructured new automaker will focus on smart vehicles, robots, flying cars and embodied intelligence, among other fields. It also has plans to step up expansions into markets including Southeast Asia, the Middle East, Central and South America and Europe, the report said.
(Reporting by Beijing newsroom; Editing by Jamie Freed)