German automaker Volkswagen and its Chinese joint venture partner SAIC Motor plan to spend 4.13 billion yuan ($590 million) to revamp their car factories in Shanghai for making new Audi sedans, according to a government document. SAIC shares increased by their maximum daily limit of 10% following the news on Tuesday, becoming their biggest increase […]
SAIC Motor
General Motors and SAIC’s China sales made recovery in April
General Motors’ sales in China saw double-digit year-on-year increase in April, its two local ventures stated on Sunday, as the world’s biggest auto market made recovery from the coronavirus. GM’s joint venture with SAIC Motor, which manufactures Buick, Chevrolet and Cadillac vehicles, stated its sales in China increased 13.6% compared to a year earlier. It […]
General Motors to resume production in China from February 15
General Motors stated on Monday it would resume production from February 15 in China, where the country is combating coronavirus epidemic which has infected thousands and killed over 900 people. Automakers in China had stopped production for the Lunar New Year holidays at the end of January. The automaker would have a staggered start to […]
Volkswagen’s resumption of some China plants delayed until February 17
Volkswagen has delayed restarting production at the majority of China plants in its joint venture with SAIC Motor and the Tianjin plant in its JV with FAW Group until February 17 amid the spread of coronavirus. One car-manufacturing plant Volkswagen collaborates with SAIC in Shanghai and majority of the plants in the FAW joint venture […]
MG Motor reveals its first electric car in India
MG Motor India, a part of China’s SAIC Motor Corporation, has revealed its electric SUV model ZS. This is MG’s second product in India following the Hector SUV. The vehicle will come with a 44.5 kWh battery, providing a range of around 340 km on a single charge. The ZS has a sky roof and […]
SAIC Volkswagen starts building $2.5 billion China plant
Volkswagen‘s China venture with SAIC Motor has started constructing a $2.5 billion new energy vehicle (NEV) plant in Shanghai, that will make automaker’s luxury Audi brand cars, a potential first for the venture. The new plant is a major step for Audi to diversify production of its cars in the world’s largest auto market from […]
Audi seeks to double production with partner FAW in five years in China
German luxury automaker Audi AG is looking to double China production with regional partner China FAW Group under five years, its chief executive stated on Wednesday, as worldwide automakers seek to localize in the world’s largest auto market. Discussing at the Beijing auto show, Audi head Rupert Stadler stated the automaker would look to provide […]
Audi thinks of doubling China sales in six years
Volkswagen‘s premium brand Audi thinks of doubling sales in China during the coming six years, sales chief Bram Schot informed Automobilwoche. “In 2023 we want to sell 1.2 million cars in China,” the German trade magazine quoted Schot as saying. In 2017, Audi sold 597,000 vehicles in China, its biggest single market. The company last […]
General Motors proposes $2.8 billion investment in South Korea
General Motors has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to offer its share of the funds, a South Korean government official stated on Wednesday. The United States automaker revealed last week it would close down a factory in Gunsan, southwest […]
Audi sales volumes in China to increase enough to reverse previous sales drop
German automaker Audi anticipates sales volumes in China to increase highly enough in November and December to reverse a 3 percent drop there in the first 10 months of the year. Joachim Wedler, the head of the brand’s Chinese organization, told Reuters on he anticipated a small single-digit percentage increase in full-year volumes in the […]
General Motors electric car sales to meet quotas by 2019
General Motors’ China joint ventures will be able to create enough new energy vehicle (NEV) sales volume to represent NEV production quotas by 2019 and without the requirement to buy credits, GM China chief Matt Tsien stated on Monday. China has set rigid production quotas for NEVs which automakers need to meet by 2019, a […]
Volkswagen and JAC electric car venture gets approval from Chinese regulators
Volkswagen and Anhui Jianghuai Automobile (JAC Motor) have gotten approval from Chinese regulators to form a joint venture to develop electric vehicles, the two companies stated on Monday. The National Development and Reform Commission (NDRC), China’s leading state organizer, provided a green light to JAC and Volkswagen to develop 100,000 pure battery electric vehicles yearly […]
General Motors will stop selling cars in India but still remain
General Motors plans to stop selling vehicles in India from the end of this year, drawing the line under more than 20 years battling among the world’s most competitive markets where it has below one percent share of passenger car sales. The decision was revealed as part of a series of reorganizing actions from the […]
Volkswagen expects China sales to increase at least 4-5 percent this year
Volkswagen‘s China sales are set to rise a minimum of 4-5 percent this year, the automaker’s China chief stated on Tuesday. VW China CEO Jochem Heizmann also stated the company was seeking to quickly resolve concerns amongst some Chinese dealerships of its Audi AG vehicles over a tie-up with SAIC Motor. The China Association of […]
Former Volkswagen chairman Piech on his way to sell Porsche SE stake
Former Volkswagen chairman Ferdinand Piech remains in talk to offer his stake in Porsche SE in a deal that would shock the ownership structure of the business that manages Volkswagen. Porsche SE is the group from which the billionaire Porsche and Piech families manage 52.2 percent of the ballot shares in Volkswagen, which is still […]
