Workers assembling vehicles at the SAIC-GM-Wuling Automobile Co production line in Liuzhou, Guangxi. GM and SAIC together operate eight joint ventures in the country. (Agencies)
As part of this, the new venture would bring under its umbrella all the Indian operations of GM including the two vehicle manufacturing facilities, a power train unit and the nationwide distribution network.
GM would also produce and sell small cars and mini-commercial vehicles developed by Shanghai GM and SAIC-GM-Wuling Automobile Co in India under the new joint venture.
“Over the past decade, SAIC and GM have created one of the world’s most successful automotive industry partnerships,” said Nick Reilly, executive vice-president and president of international operations, GM.
“Both companies felt this was the proper time to deepen cooperation beyond China’s borders in order to enhance partnership as part of long-term growth strategies,” he said.
“Changes in the worldwide economy have created new opportunities in emerging markets,” said Hu Maoyuan, chairman of SAIC.
“By leveraging our individual assets and those of our China joint ventures, SAIC and GM are in a strong position to introduce competitive products outside China that will satisfy the needs of consumers in India and other high-potential global markets,” he said. – read more at ChinaDaily.com…
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December 5th, 2009 at 9:22 pm
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