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BMW's Chinese dealers fined over price-fixing
by Staff Writers
Beijing (AFP) Aug 14, 2014


Troubled Saab carmaker NEVS gets respite
Stockholm (AFP) Aug 13, 2014 - A supplier of Chinese-owned automaker NEVS, the financially troubled owner of Swedish brand Saab, withdrew on Wednesday a bankruptcy petition it had filed to a Swedish court.

The unpaid supplier, LaboTest, had presented on Tuesday a notice at the Vaenersborg district court in southwestern Sweden against NEVS (National Electric Vehicle Sweden), created in 2012 to buy Saab, which had filed for bankruptcy in late 2011.

"We have received today information from representatives of National Electric Vehicle Sweden (NEVS) about their plans and discussions with prospective partners and investors," LaboTest said in a statement published by Swedish news agencty TT.

"Based on this information, we have decided to withdraw the bankruptcy petition we presented."

According to several Swedish media, NEVS is negotiating with automakers Mahindra (India) and Dongfeng (China).

NEVS said on Tuesday it owed its suppliers some 50 million kronor (5.4 million euros, $7.3 million).

The company's debt with LaboTest was only 150,000 kronor.

NEVS is owned by China's National Modern Energy Holdings (78 percent) and the Chinese city of Qingdao (22 percent).

Production resumed in late 2013, with the aim to make electric cars for the Chinese market.

But financial trouble grew in the last months, raising concerns among union members in the historic industrial site of Trollhaettan, where the company has 600 employees.

Since 2000, Saab automobile has no connection with the defence and aeronautics firm with the same name.

Saab automobile only offers one model today, the 9-3 Aero Sedan, inspired in the classic lines which made the brand peak between the 1960s and the 1990s.

Four Chinese dealers for German auto maker BMW have been fined about 1.6 million yuan ($260,000), authorities have said, as the government steps up a high-profile anti-monopoly campaign involving a number of foreign brands.

The dealers in Wuhan in the central province of Hubei have been ordered to pay the penalties for "forming a price alliance", provincial authorities said in a statement Wednesday.

They agreed to consistently charge a fee for the pre-delivery inspection of cars, which falls under "the obligations and responsibilities" of the auto maker and its dealers, according to the statement.

"This is price swindling behaviour and must be resolutely stopped immediately," the authorities added.

The dealers were each fined between 150,000 yuan and nearly 940,000 yuan.

China has in recent months launched high-profile probes into alleged violations by a host of foreign firms in a range of different sectors including pharmaceuticals, technology and baby milk, raising fears that overseas companies are being targeted.

China's Ministry of Commerce on Saturday released a statement emphasising that the country's six-year-old Anti-Monopoly Law does not discriminate between foreign and domestic companies.

The European Union Chamber of Commerce in China expressed concern in a statement Wednesday that European businesses were "increasingly considering the question of whether foreign companies are being disproportionately targeted".

Auto firms are the latest to be investigated, and last week the government pledged to sanction Audi, owned by Volkswagen, and Chrysler of the US, now part of Italy's Fiat group, without stating what penalties they would receive.

On Monday, Audi announced it will accept punishment for breaching Chinese anti-monopoly laws.

The Hubei authorities also said in the statement that they were working on the penalties to be meted out to manufacturers and dealers of other auto brands including Audi.

Several car companies have announced price cuts in response to the inquiries.

Beijing considers using a dominant market position to set prices as a form of monopoly. Violators' "illegal gains" can be confiscated, and they can be fined up to 10 percent of their sales revenues from the previous year.

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CAR TECH
Saab car maker NEVS reported in default
Stockholm (AFP) Aug 12, 2014
Chinese-owned automaker NEVS, the owner of the Swedish brand Saab, is in default, a Swedish court said Tuesday after receiving a notice from an unpaid supplier. "We have received a a bankruptcy petition against NEVS (National Electric Vehicle Sweden)," Vaenersborg district court spokeswoman Mona-Lisa Johansson told AFP. NEVS was created in June 2012 to buy Saab, which filed for bankruptc ... read more


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