Under China’s regulations, foreign automakers may not own more than 50 percent of their joint ventures with Chinese partners.
But that may change. Since President Xi Jinping took office early last year, he has repeatedly pledged to shore up China’s economic growth by opening up the domestic market.
Reporting by Sandra Maler
U.S. safety regulators are investigating complaints that a carpet cover trim panel is causing unwanted acceleration in Nissan Versa cars and preventing drivers from braking.
Toyota has delayed the start of production for the fourth-generation Prius from next spring until December 2015, as engineers sweat the details of a new vehicle architecture and the company’s next-generation hybrid system.
Toyota initially targeted a spring manufacturing launch for the next version of its hallmark hybrid, code-named 690A. That has been pushed back to December, people familiar with the matter say.
Gibbs unveiled their Quadski, billed as the world’s first high-speed sports amphibian in late 2012.
General Motors said Monday it will pay at least $1 million in compensation to the families of each person killed in accidents apparently caused by defective ignition switches in its cars.
