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GAC GROUP: No News on Temporary Suspension of EU Expansion Received w/ Europe Strategy Focusing on BEV Introduction
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China is exerting pressure on domestic automakers to suspend their expansion in the EU, Bloomberg earlier quoted sources as saying. Wei Haigang, general manager of GAC International, said at an event in Hong Kong today (24) that GAC GROUP (02238.HK) had not received any news for the time being, while emphasizing that the Group has already announced its product launch plan at the Paris Motor Show. There will be a small batch of BEVs imported into the European market by the end of the year. The Group's strategy in Europe is mainly focused on the introduction of BEV, but PHEVs are not affected by the tariff hike, Wei added. Therefore, the Group will also consider launching PHEVs in the European market later. AAStocks Financial News |
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