Originally Posted by dmitra
...but it is also true that weak local brands like Haima have simply shifted out of the car-buying population's radar (and this was evident even before COVID). The total volume for the three or four models that Haima + FAW-Haima currently struggle to keep in production is grossly inadequate to sustain the operation of three factories (or even one for that matter) for any stretch of time; the economics just don't add up. The local governments may prop them up for some time but even they will run out of patience after a while.
Rumor has it that Hainan Development Holdings Co., Ltd., an entity belonging to the Hainan Provincial Government, is acquiring FAW's 49% stake (see preceding post) in FAW Haima Automobile Co., Ltd.