BEIJING (XFN-ASIA) - Dongfeng Motor Corp, PSA Peugeot Citroen's lone joint venture partner in China, said it is in talks to buy an unspecified stake in Hafei Automobile Group.
However, Donfeng Motors spokesman Hu Xindong told XFN-Asia that the automaker's talks with Hafei do not involve Peugeot (other-otc: PEUGY.PK - news - people ) , which earlier this year signed a draft agreement with Hafei to explore the possibility of setting up a 50-50 joint venture to build passenger vehicles in China.
He declined to give further details.
Carmaker Hafei is controlled by China Aviation Industry Corp II (AVIC II).
forbes.com/afxnewslimited/feeds/afx/2007/12/03/afx4396018.html
However, Donfeng Motors spokesman Hu Xindong told XFN-Asia that the automaker's talks with Hafei do not involve Peugeot (other-otc: PEUGY.PK - news - people ) , which earlier this year signed a draft agreement with Hafei to explore the possibility of setting up a 50-50 joint venture to build passenger vehicles in China.
He declined to give further details.
Carmaker Hafei is controlled by China Aviation Industry Corp II (AVIC II).
forbes.com/afxnewslimited/feeds/afx/2007/12/03/afx4396018.html