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China sets out to rein in country s bloated EV industry
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China Economic Boss s Vow To Reduce Number Of Domestic EV Manufacturers
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CX Daily: Saving Peking University’s Fallen Tech Conglomerate
Restructuring /
In Depth: Saving Peking University’s fallen tech conglomerate
Peking University Founder Group Corp. (PUFG) was once the poster child for the entrepreneurial spirit that flowed from the hallowed halls of China’s elite universities in the 1980s as reform and opening-up fever gripped the country. Today, it’s bankruptcy reorganization after years of reckless expansion built on unsustainable debt, with some corruption thrown in for good measure.
Many of the other high-profile busted corporate flushes that have been through the bankruptcy restructuring or liquidation mill were victims of massive corruption or asset stripping by their previous owners, or weak players in their sectors or in industries with poor prospects. But PUFG has a portfolio of attractive assets in growth areas.
Technology major seeks control of small automaker to make cars bearing its own nameplate Published: May 04, 2021 15:52 Reuters A Seres Huawei Smart Selection SF5 electric vehicle displayed during the Auto Shanghai show in Shanghai, China April 19, 2021. Image Credit: Reuters
China s Huawei Technologies is in talks to take control of a small domestic automaker s electric vehicle unit, two people with direct knowledge of the matter said, a move that would be a strategic shift for the world s largest telecom equipment maker.
A company spokesman denied such a step, however.
Huawei, which has been battered by U.S. sanctions, is in talks with Chongqing Sokon to acquire a controlling stake in the latter s Chongqing Jinkang New Energy Automobile, said the sources.
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