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Chinese Auto Makers Need New Export Model: BAIC Chairman

China’s auto makers should switch to exporting technology and capital rather than vehicles to get into foreign markets, according to a senior Chinese industry figure. “This is an inevitable change for Chinese auto makers who want to go global,” Xu Heyi, chairman of China’s fifth largest automotive group, Beijing Automotive Group (BAIC Group), told Xinhua in a recent interview. He said he expected Russia, for example, to adopt more policies to raise the threshold of foreign auto makers’ entry. “This is an inevitable choice to develop the Russian domestic auto industry,” he said. “So, against such a backdrop, products export is a short-sighted behavior,” Xu said.

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New Frontiers, no Easy Money

Chinese automakers are setting up manufacturing operations overseas, but they know success will take years of hard, patient work. State auto groups in China used to sit back and harvest the easy money from joint-venture brands, but as the domestic market cools and their ambitions grow, international markets have become a greener pasture.

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Beijing Auto Unit Eyes European Assets

Beijing Automotive Group Co, which manufactures vehicles with Daimler AG and Hyundai Motor Co in China, has started a unit to spearhead acquisitions abroad, starting with Europe. “We will do everything in our power to explore overseas markets,” Beijing Auto Chairman Xu Heyi said over the weekend.

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