Industry News
SAIC outlines to build alternative powertrain vehicles
1st March 2006
Shanghai Automotive Industry Corporation (SAIC) has revealed plans to develop ‘clean’ vehicles, reports the Shanghai Daily, including a prototype fuel cell bus by the end of this year, and series production by 2008, and hybrids with its joint venture partners GM and VW next year.
SAIC has also confirmed the establishment of a new subsidiary, SAIC Motor Manufacturing with an initial investment of Yuan 3.68bn (US$457.68m), which will build cars independently of its Western joint venture partners – the Rover 75-based vehicle for which SAIC acquired design rights from MG Rover before the latter’s insolvency.
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