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 government’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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