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Tie-Up To Strengthen Business In China
Same sort of crisis exists in the Indian auto scenario where Hinduja Group and Mahindra Group face the blessings of overseas deals for expanding their domestic and global business. The Chinese companies, especially the ones owned by the government, Dongfeng and FAW seem to rely on their expertise for expanding the brand images. It is said that every car maker in the industry needs a sort of revamp for every ten years and this is another occasion to discuss about these companies. The Chairman of Geely said it would be very difficult to locate a brand like Volvo and in a lighter vein . The Chinese companies would be willing to buy if Daimler AG came for sale. Cox served Geely as advisor before settling with his own Ken Moelis.
He further said that the Chinese car makers concentrated more on the domestic market which remains the world biggest. He however cautioned that the Chinese market should not be framed as much as the Japanese market for the export trend. He said the Chinese makers are focusing on Chinese cars for Chinese people. He also said the launch of Roewe by SAIC of China in Europe marks the entry of the Chinese invasion into the global lands. Cox hinted that the Chinese cars will hit the global markets in another five years, much contrary to the expectations of the people in the industry.
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