Shanghai Auto tie-up may create Chinese car champion


By Fang Yan SHANGHAI, July 29 (Reuters) - A tie-up between Shanghai Auto, China's biggest car maker, and smaller rival Nanjing Auto could lead to the creation of a Chinese national car champion to rival the big multinationals. Shanghai Automotive Co. said on Friday that parent groups of the two companies had signed a letter of intent to discuss ways of achieving a "complete union" between the firms through business cooperation and restructuring. China's central government and local ...

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