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List of News and Information about saic on 4WheelsNews.com

News and Information about saic

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You also might be interested: gm, china, india, opel, electric car, nhtsa, a123 systems, ipo, vw, profit, partnership, baojun, small car, low-cost car

SAIC-GM-Wuling to build microvans in India, Egypt with kits from China

The Chinese microvan joint venture of General Motors will commence production at two facilities in Egypt and India with the use of kits imported from China. Specifically, SAIC-GM-Wuling Automobile Co. will begin building the C300 microvan in Egypt in July with the knockdown kits transported from the venture's Qingdao facility, according to the venture's executive vice president Karl Slym.

Moreover, the joint venture's facility in India will start producing the CN100 in August with the kits from its Liuzhou factory.  In a presentation delivered in Beijing last week, Slym explained that the action will provide "huge growth" to their export volume.

In China, the CN100 is recognized as the Wuling Hongguang while the C300 is named the Wuling Rongguang. These microvans both seat five people, with C300 being larger than the CN100. SGMW is anticipating exporting at least 20,000 automobiles in 2012 with the two CKD facilities in operation. The estimate is an increase from the 14,000 vehicles that the automaker achieved in 2011, Slym said.

Read the entire article SAIC-GM-Wuling to build microvans in India, Egypt with kits from China

Opel teams up with SAIC to sell its cars in China

For Opel to expand sales in China, it may decide to team up with Chinese automaker SAIC, according to German newspaper Handelsblatt. Opel has been in talks with SAIC about a sales partnership to sell and distribute its cars in China. Opel parent General Motors Co. has a joint venture with SAIC in China.

Handelsblatt said that Opel may increase the number of dealers in China that sell its cars to between 200 and 300 from 50 with the assistance of SAIC.

Two sources said that no agreement has been finalized and that there are several open questions with regards to finance. An Opel spokesman declined to comment on the report.

Read the entire article Opel teams up with SAIC to sell its cars in China

GM signs agreement with SAIC to develop electric cars in China‎

General Motors Co. and China's largest domestic carmaker, SAIC Motor Corp., will be developing electric vehicles in an effort to meet government requirements for more low-emission rides in China, the biggest automobile market in the world. The partners will design the vehicles and develop the parts at an existing joint venture in the country, the two companies have disclosed.

According to GM's head of international operations, Tim Lee, electric vehicles will be "a key component" in their current five-year plan for the country.

Vehicle manufacturers such as Nissan Motor Co. and Daimler AG have revealed plans to add alternative-energy cars in the country in order to reduce emissions. According to the Ministry of Science, the government is targeting 1 million electric-powered cars on the road by 2015.

Read the entire article GM signs agreement with SAIC to develop electric cars in China‎

Goodwood signs memo of understanding with SAIC

Goodwood, Anting ‘Auto City’ and SAIC Motor inked a Memo of Understanding that will enhance cooperation and a mutual understanding of vehicle culture to further develop the Chinese car consumer experience as the biggest vehicle market in the world in terms of sales volume as well as to lead to an increasingly mature automotive industry.

The Memo was signed during the opening of the 19th Goodwood Festival of Speed by SAIC Motor Executive Vice President Chen Zhi Xin and Anting Council Leader Li Xue with Lord March in order to enhance their partnership with Goodwood.

The witnesses of the signing were SAIC Group’s Chairman Hu Mao Yuan and China’s Ambassador to the UK Liu Xiaoming. SAIC Motor owns the iconic British MG Cars brand, which has enjoyed a close and long relationship with Goodwood. In the 1930s, Lord March’s grandfather, Freddie March, who is the 9th Duke of Richmond, was a Works racing driver for the MG team.

Read the entire article Goodwood signs memo of understanding with SAIC

The National Highway Traffic Safety Administration revealed that SAIC Motor Corp., the largest domestic carmaker in China, is included in a list of Chinese companies that plan to offer their models in the U.S. market. NHTSA’s administrator David Strickland went to Shanghai and visited several automakers.

He made a stop at the car production plant of SAIC where he talked about the safety standards that the U.S. agency imposes. As the growth in China has slowed, carmakers based in China like SAIC, Geely Automobile Holdings Ltd. and Great Wall Motor Co. want to get into exports.

The Chinese government has ended incentives and the China Association of Automobile Manufacturers takes this to mean that in 2011, deliveries in China will not reach the initial growth forecasts of between 10 and 15%.

Read the entire article NHTSA administrator visits SAIC, other Chinese carmakers that plan their US debut

SAIC Motor Corp. has recently announced several acquisitions, including buying its parent firm’s 6% stake in the South Korean unit of GM. Shanghai-based SAIC, China's largest automaker, said that it will issue 1.73 billion new shares to pay for this purchase.

SAIC Motor also entered a deal to buy parts makers and other businesses from its parent for 32 billion yuan ($4.9 billion) in stock in order to have control of the upcoming models’ supplies and speed development.

SAIC, which builds cars in China with General Motors Co., said that this acquisition may assist with its projects involving electric and hybrid vehicles. This acquisition is timely since the government is strongly supportive of cars that offer high economy in order to reduce pollution as well as lessen the need to import fuel to China.

Read the entire article SAIC acquires parent company’s 6% stake in GM’s South Korean unit

SAIC Motor Corp. has tapped US startup A123 Systems Inc. to supply lithium-ion cells to be used in an electric vehicle that’s due in 2012. At Advanced Traction Battery Systems Co. (the companies' joint venture), cells made by A123will be integrated into battery packs for SAIC, China's largest domestic carmaker.

A123, which is part-owned by General Electric Co., released a statement that this electric car will have a 100-mile range on a single charge. However, Jason Forcier, vice president of A123's automotive group, didn’t reveal how many electric cars are planned.

In an interview last Monday, David Vieau, A123's CEO, didn’t indicate a specific number but he said that it is “significant” and won’t be “just 200 cars.” A123 had previously revealed plans to supply cells for SAIC's Roewe 750 hybrid and Roewe 550 plug-in hybrid sedans.

Read the entire article A123 Systems will supply lithium-ion cells to SAIC

As part of its landmark initial public offering, General Motors Co. is finalizing talks to sell equity to its Chinese partner SAIC Motor Corp., according to two insiders.

These two people added that GM and SAIC are finalizing how much stake SAIC would buy in GM after talks on SAIC’s goals to move beyond the China market and technology sharing.

These people added that any deal between SAIC and GM must be green-lit by the Chinese government and there’s a risk that it could fall apart.

Read the entire article GM and SAIC in final talks for IPO stake buy

SAIC Motor Corp. increased its profit by 47% in the third quarter as it sold more cars with partners Volkswagen AG and General Motors Co. in China, the world's biggest auto market.

SAIC, which is China's largest domestic automaker, released a statement to the Shanghai stock exchange that the net income for the quarter increased to 3.7 billion yuan ($554 million) from 2.53 billion yuan a year earlier. Sales more than doubled to 81.6 billion yuan.

SAIC, which offers Buick Excelle compacts and VW Passat sedans on the mainland, boosted car sales as government incentives and expanding incomes stirred up demand.

Read the entire article SAIC boosted third-quarter profit 47 percent, thanks to Vw and GM

SAIC Motor Corp. is “closely watching the progress” of the initial public offering of General Motors Co. as it is in talks to purchase a stake. SAIC’s spokeswoman Judy Zhu said, “As a strategic partner of GM, SAIC wishes the success of the GM IPO.”

Reuters reported on Sept. 18 that according to its sources, SAIC, GM's partner in China, is in talks to buy a stake.

It’s likely that GM's IPO will be open to overseas investors as the US Treasury aims to cut its stake in the company.

Read the entire article SAIC in talks to purchase a stake in General Motors

General Motors Co. is expected to enter a deal for Chinese partner SAIC to acquire majority control of its China venture and get as much as half of its India operations, according to sources who claim to be familiar with the negotiations.

As a result of the deals, GM will receive an infusion of cash that it requires to restructure itself in two of the world's fastest-growing markets. 

It's anticipated that the deal would have GM selling 1% of its 50-50 China joint venture to SAIC Motor Corp., China's biggest automaker, according to a Reuters report that cited two sources who remain unnamed. This means that SAIC would have a controlling stake.

Read the entire article GM to sell majority control of its China venture to SAIC

A new brand, Baojun, will be introduced by the SAIC-GM-Wuling joint venture to handle marketing of its future lineup of passenger cars. The Chinese word Baojun is translated to "treasured horse."

According to the partnership among General Motors Co., Shanghai Automotive Industry Corp. and Wuling Motors, the first passenger car model will be launched next year. These plans were outlined last Sunday during a press event in Shanghai.

The first Wuling car model will be a mid-sized sedan based on the Buick Excelle. The car was designed by the Pan Asia Technical Automotive Center, a Shanghai design studio shared by GM and SAIC. 

Read the entire article SAIC-GM-Wuling joint venture introduces Baojun brand in China

General Motors Co. and SAIC Motor Corp. further expands their 13-year partnership by agreeing to jointly develop small engines and transmissions. Last December, these two companies had agreed to set up a joint venture in India to produce small cars and commercial vehicles.

This latest deal leads the way for GM to cope with the demand for small city cars in growing markets and reduce the costs of developing fuel-saving technologies for the US market, where it will have to comply with the new fuel economy standards by 2016.

Analysts said that potential investors will be considering how it manages a strategy for sustained growth in the Chinese auto market. 

Read the entire article GM and SAIC expanding their partnership to develop small engine family and transmission

Another entry-level low-cost car could be entering the Indian market. China's Shanghai Automotive Industry Corporation Group (SAIC) and General Motors Company are considering a plan to explore and launch the A1 segment car that could be positioned below Spark and cost anywhere between US$ 3,500-4,000. GM has recently set up a US$100 million joint venture in Hong Kong to focus on the Asian markets. 

Industry sources claim that there are no immediate plans for GM India to produce an entry-level low cost car. However, if it does get launched, it will come out from its Talegaon unit and would be made available in several emerging markets.

Of course, the design inputs for the car will originate from India. It's also likely that the car will be positioned in other markets that include Latin America, Eastern Europe, Africa and China.

Read the entire article GM and SAIC considering an entry-level low-cost car
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