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China’s Largest Automaker Opens Detroit Office

Could SAIC eventually target U.S. market?

by on Jul.02, 2012

Chinese automaker SAIC opens a new outpost in the Detroit suburbs.

China’s largest automaker has opened a new outpost in the Detroit suburbs to build closer ties with one of its principal partners, General Motors  – as well as some of the other North American automakers and suppliers.

Shanghai Automotive Industries Corporation USA Inc. expects to have 100 employees in its new operations center in Birmingham, Michigan, one of Detroit’s principal suburbs.  What that means in the long-term, especially with the Chinese expected to eventually target the American market, remains an unanswered question.

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Cooperation between U.S. and Chinese automotive companies is increasingly important in the new global automotive marketplace, SAIC Motor Chairman Maoyuan Hu said in a statement Friday.

Maoyuan said the opening of the new North American Operations Center in Birmingham marks an important step in creating a stronger ties between the US and Chinese automotive industries. With the increasing importance of cooperation between the major global automotive markets, this move by SAIC to strengthen its US presence is significant, he said.


GM China Sales Top 2 Million

Despite market slowdown, maker heading for new record.

by on Oct.18, 2011

GM China President Kevin Wales.

General Motors has sold more than 2 million vehicles in China for the second year in a row – and despite the slight slowdown in the market – now the world’s largest – the U.S. maker appears set to post another yearly sales record.

The American auto giant reached the 2-million-unit-mark more than two weeks ahead of the date last year when it became the first global automaker to sell 2 million vehicles in China, GM reported

“This is another outstanding achievement for GM in the world’s largest vehicle market,” said Kevin Wale, president and managing director of the GM China Group. “Our key brands and many of our key products have continued to experience record demand despite intense competition.”

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GM’s SAIC-GM-Wuling joint venture, which is targeted at customers in smaller cities and rural China, sold its 1 millionth vehicle in China this year on Oct. 14. In addition, demand in China this year for the Buick brand has risen 24%, with Cadillac up 73% and Chevrolet posting an 18% increase.

China is now the second-largest global market for Chevrolet – which has been pressing hard to expand outside its traditional base in North and South America.  Sales surged 411% since the brand was introduced in China in 2005 – this year expecting to post another record after reaching 544,000 in 2010.


China’s SAIC To Take GM Stake – Help Push IPO Price Above Original Estimates

Foreign money to help take “Government Motors” public again – and may recoup taxpayers’ investment.

by on Nov.15, 2010

"Government Motors"? But which government after the IPO?

With General Motors’ long-awaited IPO expected to take place in a matter of days, the once-bankrupt automaker will begin the process of selling off the 60.1% holdings of the U.S. Treasury, a stake that, among critics, has earned GM the sobriquet of “Government Motors.”

But the alternative might prove equally unsettling to those who prefer to get Washington out of Detroit – even if it gets back most of what taxpayers have invested to keep the domestic automaker alive.

With GM’s IPO expected to take place on Thursday, the 18th, there are growing signs that the maker’s original plan – which called for offering shares, after a 3-for-1 stock split, at $26 to $29 each – may be significantly boosted by strong demand.  But among those lining up to invest in the corporation long seen as a symbol of American industrial might are a variety of banks and funds based in places like China and the Middle East.

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Among the likely investors is SAIC, GM’s primary Chinese partner – which happens to be owned by the Shanghai government.  It is reportedly planning to pump in $500 million out of the $13.6 billion or more that General Motors hopes to raise through its initial public offering.