More Chinese carmakers buying into foreign technology. This time, Dongfeng Motor Corp has acquired a 70% interest in T Engineering AB, formerly a unit of Saab Automobile Powertrain AB.
The state-owned Chinese company did not disclose the value of the deal, but under the agreement signed with T Engineering last week, Dongfeng will purchase the remaining 30% stake in the Swedish company within two years.
T Engineering, located in Trollhattan, Sweden, develops control systems for combustion engines, hybrid powertrains and electric vehicles. The company employs 32 engineers.
Dongfeng, based in the central Chinese city of Wuhan, is a major truck maker in its home market. It started building cars three years ago and has passenger vehicle joint ventures with Nissan, Honda, PSA Peugeot Citroen and Kia.
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See Nissan and Honda vehicles are made in China, no wonder the quality is so low. Toyota on the other hand got standard and refuse to move into China and degrade their good name and qulaity.
Nissan sylphy!
looks like chrysler 300