SAIC Motor said today that it will not be buying a controlling stake in China Auto Rental due to newly emerged circumstances. “ What we focus is not only acquiring the firm but also its operations after the acquisition is completed. We terminated the transaction in time to protect our shareholder ’ s interest， ” said Chen Hong, chairman of SAIC Motor in a shareholder ’ s meeting today. A few hours later, the parent firm of China Auto Rental said it is to sell no more than 443 million shares worth HKD1.37 billion to a unit of BAIC. The Beijing-based car-maker is expected to hold 20.87 percent of the car rental firm after the acquisition is completed. For automakers, having a ride-hailing or rental platform on the side is becoming an important driver of sales, said Zeng Zhiling, general manager of LMC Automotive Consulting . China Car Rental ’ s revenue was CNY1.325 million in the first quarter, a decrease of 28.3 percent, and its net losses amounted to CNY18...