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Old 12-05-2019, 12:35 PM   #9
dmitra
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In July 2019, Changsheng Xingye (Xiamen) Enterprise Management Consulting Co., Ltd., the intermediary that had acquired 67% shares of Beijing Borgward Automobile Co., Ltd. (the production company) in December 2018, formally transferred this stake to Shenzhou UCAR (Xiamen) Information Technology Co., Ltd. Now Shenzhou UCAR and Beiqi Foton own 67% and 33% of Beijing Borgward Automobile Co., Ltd.

The German company Borgward Group GmbH (no longer AG), a wholly-owned subsidiary of Foton (see earlier posts), now headed by Baiyin Wang, transferred 100% of Borgward Automotive (China) Co., Ltd. (the China management company) to Beijing Borgward Automobile Co., Ltd. (the production company) in March 2019.

Christian Borgward exited Beijing Borgward Automobile and Borgward Automotive (China) in January and March of 2019 respectively.

Last edited by dmitra; 12-05-2019 at 12:43 PM.
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