6. FAW, Dongfeng, Changan join hands

Three State-owned Chinese automakers have joined hands to better brace themselves for the market. According to a deal signed in December, FAW Group Corp, Dongfeng Motor Corp and Chongqing Changan Automobile Co are to promote technological innovation, optimize full-value chain operations, expand their global markets and explore new business models. The three companies will build a technology center that will focus primarily on new energy cars, smart and internet-connected cars as well as lightweight car bodies, and also share the results. The cooperation will help Chinese carmakers to gain considerable scale, and build better and more competitive car brands, Changan said in a statement.