The automaker estimates its struggling China business will cost $5 billion, but it isn't giving up on the country yet.
In order to increase localization of cars under the joint venture, the group is exploring the state of Orissa to set up another manufacturing facility, says Parth Jindal
General Motors Co. lost $2.96 billion in the fourth quarter after a $4 billion charge for restructuring its struggling business in China, but it logged record full-year adjusted profits globally and in North America.
A joint venture between China’s SAIC Motor Corp Ltd. and India’s JSW Group plans to roll out a plug-in hybrid car next year and has sought lower local taxes to lure price-conscious Indians to these greener vehicles.
On May 24, 2014, Chinese President Xi Jinping visited SAIC Motor and emphasized that the development of new energy vehicles (NEVs) was essential for China to transition from being a major auto producer to an auto powerhouse.
China has become the sixth largest country of origin for new vehicles registered in Europe, according to the latest data from JATO Dynamics.
General Motors (GM) is scheduled to announce Q4 earnings on Tuesday, January 28th, before the market opens, with analysts expecting a double-digit growth in pro
GEELY AUTO (00175.HK), and SAIC Motor (600104.SH) filed a lawsuit in the EU General Court on Tuesday (21st) to challenge the EU's imposition of additional tariffs on imported Chinese EVs, according to Reuters.
MG has returned to the South African market after exiting the country in 2016. The former British brand belongs to Shanghai giant SAIC Motor, which acquired it in 2007.
China’s SAIC expects its full-year profit to come in at between RMB 1.5 and RMB 1.9 billion in 2024, representing a plunge of between 87% and 90%, due to
Chinese EV makers BYD, Geely, and SAIC contested EU's import duties at Court of Justice. Tesla excluded from tariffs, gaining only 7.8% tax.