China's Changan restructured as independent state-owned automaker, CCTV reports
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FILE PHOTO: A picture shows the emblem of the Changan automobile maker at the IEEV New Energy Vehicles Exhibition in Beijing, China October 18, 2018. Picture taken October 18, 2018. REUTERS/Thomas Peter/ File Photo
BEIJING (Reuters) -Changan Automobile has begun operating as an independent automaker controlled by China's central government, state television CCTV reported on Tuesday.
The spin-off from state-owned China South Industries Group Corp was established in Chongqing on Tuesday.
With 117 subsidiaries, the restructured new automaker will focus on smart vehicles, robots, flying cars and embodied intelligence, among other fields. It also has plans to step up expansions into markets including Southeast Asia, the Middle East, Central and South America and Europe, the report said.
(Reporting by Beijing newsroom; Editing by Jamie Freed)
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