MANILA -- China's SAIC Motor is to sell its Maxus brand in the Philippines after striking a deal with local conglomerate Ayala Corp. on Monday.
SAIC is one of a number of Chinese automotive companies that are making inroads into Southeast Asian markets, which have long been a stronghold for Japanese companies like Toyota Motor, Honda and Nissan Motor. Wuling Motors has expanded in Indonesia, while Zhejiang Geely Holding Group bought into Malaysian auto company Proton Holdings last year. SAIC's MG brand is already available in the Philippines.
