April 16, 2019 / 4:46 AM / a month ago

China's GAC says partners have no plans to raise JV stakes

SHANGHAI (Reuters) - Guangzhou Automobile Group Co Ltd’s (GAC) foreign partners have no plans to raise their stakes in their China joint ventures, a senior official at the Chinese carmaker said on Tuesday.

Feng Xingya, GAC Group’s general manager, made the comments to reporters on the sidelines of the Shanghai Autoshow. GAC Group’s partners are Toyota Motor, Honda Motor, Mitsubishi Motors and Fiat Chrysler Automobiles NV.

Reporting by Yilei Sun and Brenda Goh; Editing by Aaron Sheldrick

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