FAW abandons Brilliance takeover
Published March 7, 2011
Brilliance Automotive maybe a small player in the Chinese car market but it does produce a coherent series of vehicles under a much valeted brand, something which the state owned auto makers have been unable to produce, and furthermore it has its own range of MPVs under the Jinbei series which sell extremely well in China. First Automobile Works have been interested in Brilliance Auto for quite some time but as Brilliance is owned by Liaoning government they are eager to keep jobs in the province, Liaoning is the first step on the Chinese rust belt of North East China so it is paramount that jobs and the creation of new jobs happens in the province.
Reuters reported on Brilliances failed takeover by FAW at the weekend, it seems that Brilliance are now going down the self developed plan and are keen to produce 3 million cars in Liaoning by 2015 according to Liaonings Governor Wang Ming. Brilliance also has the highly prized joint venture agreement with BMW which is expected to see considerable investment itself this year with a new factory and also an increased model line up.
Brilliance are expected to bring a new sedan and also a new compact sedan to the market in 2011 which will boost their sales considerably.