BAIC chief sees swing to profit in ‘19 on Senova cars

Bloomberg

BAIC Motor Corp. will probably make a profit on sales of its own brands such as Senova cars next year after significantly reducing losses this year, Chairman Xu Heyi said in an interview Saturday on the sidelines of the Chinese People’s Political Consultative Conference in Beijing.
Such a reversal of fortunes for the Beijing-based automaker’s money-losing Senova marque would add to the profit it already makes on the foreign brands that it jointly produces under partnership agreements.
Xu added that BAIC is selecting a site for a second manufacturing base in the Middle East while exploring the feasibility of a facility in Central Asia. BAIC also is talking to Panasonic Corp. about increasing cooperation on batteries and intelligent manufacturing, Xu said.
BAIC and Daimler AG are planning to build a $1.9 billion factory in
China for Mercedes-Benz vehicles
to meet growing demand as the German automaker increases ties with the country.