CHINA: Government wants 50% of cars self-developed by 2015
China wants half of passenger cars, including sport utility vehicles, sold to be self-developed by 2015, up from 44% now, as part of a push to build up the indigenous auto industry, state media has said.
Chinese automakers' own-brand sedans should account for a 40% share of the market, according to revised guidelines for the auto industry, the Shanghai Securities News said, citing unamed sources, according to Reuters.
Sales of SAIC Motor Corp's Roewe and other indigenous sedans came to 1.95m units in the first 11 months, accounting for 29% of overall sedan sales, official data showed.
The guidelines, expected to be released in the first half of 2010, also called for Chinese companies to hold at least 50% of any newly-formed foreign venture producing green cars, batteries and key components, the newspaper said. They also encouraged local automakers to recruit overseas talent, it added, without elaborating.