Transport

Opel Halts China Expansion Plan on US Tensions – Handelsblatt

 

German auto giant Opel has axed its China expansion plans over fears about the impact of rising tensions between Beijing and the West, the Handelsblatt daily reported on Friday.

China’s strict zero-Covid policies have also influenced Opel’s decision, the report went on, making a proposed entry into the already competitive market an even more difficult proposition.

Full story: Handelsblatt

 

  • By Sean O’Meara

 

Read more:

China Auto Sales Poised to Rebound in May From Lockdown Lows

China Auto Sales Crash as Covid Curbs Take Toll on Tesla, VW

 

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

Recent Posts

China Buys Russian Oil at Deepest Discount in Months

The effective prices refiners pay could exceed the $60 per-barrel cap that came into effect…

22 mins ago

EV Maker Vietnam’s First Company to List in US

If successful, VinFast will be Vietnam's first company to list in the United States

22 mins ago

Plunging Trade Risks China’s Status as the ‘World’s Factory’

China's uncompromising Covid policies, poor domestic demand and a real estate sector crash all combined…

18 hours ago

China Debt Ratio Three Times GDP in Record High – Nikkei

With private businesses reluctant to spend, local government and state-owned banks stepped into the gap…

18 hours ago

US Eases Planned Curbs Against China Chips Over Cost Fears

The move followed pushback from trade groups like the US Chamber of Commerce which argued…

22 hours ago

Asia Stocks Sink as Recession, China Covid Fears Weigh

Investors were in pessimistic mood with US banks predicting a downturn next year and worries…

23 hours ago