Israel among first to import SAIC cars from China
January 29, 2009
Peugeot Citroen importer Lubinski will begin the regular import of Shanghai Automotive Industry Corp. cars in the fourth quarter.
Peugeot Citroen importer David Lubinski Ltd. will begin the regular import of vehicles made by Chinese carmaker Shanghai Automotive Industry Corporation (SSE: 600104) (SAIC) in the fourth quarter of 2009, and will begin marketing in January 2010. The first SAIC cars will arrive within a few weeks to give Lubinsky the time to study the cars and train its sales and service staff.
The cars arriving next month will not comply with standards, so they cannot be driven on the roads. SAIC already manufactures cars that comply with EU Euro-5 emissions standards, and these are the cars that will be delivered later this year. SAIC is a partner of General Motors Company (NYSE: GM) and Volkswagen AG
SAIC selected Israel, the UK, and Spain as its first target countries in Europe. Some of the cars will come directly from SAIC's factories in Shanghai and Nanjing, while others will come from the company's UK factory, which it acquired from Rover.