A newly formed Chinese auto maker plans to manufacture and sell vehicles under the Beijing brand name and is aiming for production of 700,000 units in five years. The Chinese governmentâ€™s Xinhua news agency reports BAIC Motor is funded jointly by Beijing Automotive Industry Group, the Beijing state-owned Assets Management Co. and four other companies and organizations. Han Yonggui, deputy general manager of BAIC Group, which holds a 51%t in the new company, is quoted as saying the auto ...
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