BEIJING | By W. Jiapeng, H. Haoyi, Z.Shiyun and G. McCubbing via Caixin | The second time around to China has offered much more promise than the first some two years ago, Elon Musk, founder and CEO of Tesla Motors Inc, said in an interview with Caixin. In three or four years, Musk plans to have cars produced in China, which will mean setting up a joint venture with a local partner, influencing the car industry to move faster in the direction of electric cars.
MEXICO CITY | By David Brunat | It’s crystal clear: the automotive industry is going to drive the Mexican economy soon, says the country’s Automotive Industry Association AMIA, who predicts that in 5 years they will be producing 4 million units -and replace Japan as the second-largest exporter of cars to the United States.
NEW YORK | General Motors and PSA Peugeot Citroën’s strategic pact announced Wednesday is meant to help both automakers squeeze $2 billion a year at their struggling European operations. The Detroit giant will acquire a 7% stake in French automaker PSA as part of a broad alliance that will include sharing vehicle architectures and pool the purchase of components. They will also cooperate in such areas as logistics and transportation to…