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SAIC to develop electric cars

2008-12-15

Shanghai Automotive Industry Corporation (SAIC) Group and its subsidiary SAIC Motor plan to invest 2 billion yuan ($292 million) to develop electric-gasoline and electric cars.


According to a report filed to the Shanghai Stock Exchange by SAIC Motor, the two companies will establish a joint venture with a registered capital of 600 million yuan, with SAIC Group contributing 540 million yuan, or 90 percent of the stakes of the joint venture, and SAIC Motor making up the remaining 10 percent with 60 million investment.


The total investment will hit 2 billion yuan, of which 100 million yuan will be earmarked for fixed assets and the rest in research and development.


SAIC Group is China's largest automobile manufacturer in terms of sales.

http://www.chinadaily.com.cn/bizchina/2008-12/15/content_7305302.htm
 

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SAIC to launch first own-brand hybrid car in 2010

January 09, 2009
Shanghai, January 9 (Gasgoo.com) SAIC Motor Corporation will launch its first own-brand hybrid passenger car in 2010, xinhuanet.com said today.

Yesterday, SAIC Motor Corporation and its parent company Shanghai Automotive Industry Corporation (SAIC) officially inaugurated a powertrain joint venture (JV) — Shanghai Jieneng Automotive Technology, which will develop both hybrid and electric powertrains.

The new venture has a registered capital of 600 million yuan (US$88 million), with 90% ownership held by SAIC and 10% owned by SAIC Motor Corporation. The total investment in the business, which will develop both hybrid and electric powertrains, is planned to reach 2 billion yuan.

Zhu Junze, the president of the new hybrid powertrain technology JV, said that the vehicle will use a lithium-ion battery and cut fuel consumption by 20%.

http://www.gasgoo.com/auto-news/1009006/SAIC-to-launch-first-own-brand-hybrid-car-in-2010.html
 

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SAIC To Launch Hybrid and Electric Lineup by 2012

05-06-2009 - SAIC Motor has announced plans to launch a series of hybrid and electric vehicles by 2012, led off by a hybrid Roewe 750 sedan coming out next year. It's a sign that Chinese carmakers are shifting to a higher gear to meet growing demand for alternative-energy vehicles.

The hybrid Roewe 750 sedan next year could improve fuel efficiency by 20 percent over the current model, as part of SAIC's blueprint for "new energy" vehicles unveiled this week.

Another plug-in hybrid, a version of the Roewe 550 sedan that could cut fuel consumption by 50 percent, is due to hit the market in 2012. At the same time, SAIC's self-developed electric vehicles will also be rolled out.

The carmaker has signed an agreement with the Shanghai government to provide nearly 1,000 alternative-energy vehicles, including all-electric, fuel cell and hybrid vehicles, for the 2010 World Expo here.

Chinese carmakers have poured millions into development and aggressively pushed forward mass production of "new energy" cars to meet higher market demand as customers view the issue of energy efficiency and a better environment as important.

SAIC, the Chinese partner of General Motors and Volkswagen, said it will invest as much as $877 million in the new technology.

Even as it wrangles with issues of underdeveloped infrastructure and higher costs, the government is aiming to have 60,000 alt-energy vehicles on the streets by 2012, including plug-in hybrid and electric cars.

Over the past few years, SAIC has unveiled several green cars, including a hybrid Buick LaCrosse sedan and a Passat Lingyu.
http://www.edmunds.com/insideline/do/News/articleId=147513
 
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