Power Diversity denies involvement in BAIC-Subaru JV

• Source: Global Times
• [15:25 July 28 2010]
• Comments

The Chairman of Power Diversity, Pang Qinghua, said Wednesday that the group is not involved in the joint venture (JV) negotiation between BAIC and Subaru.

It is the first official response to the public since rumors that the firm intended be part of a three-way JV burst out recently.

Power Diversity's Zhongji Subaru is the largest distributor in China. Its sales in 2009 reached 24,000 units.

SAIC also denied the rumour Tuesday on the cooperation between SAIC and Subaru.