Date: 2013-07-31

SAIC Motor Form Joint Venture with GKN in Chongqing

Recently, SAIC Motor Corporation Limited(SAIC Motor) form a joint venture with GKN and China South Group Industrial Automobile Stock Co.,Ltd in Chongqing Municipality, Middle West China. The registration capital were RMB50 million, the controling share that China South Group, SAIC and GKN taken were 40, 51 and 9 percent respectively. This joint venture is to supply driveshaft for the auto manufacturers in West China.

SAIC Motor, the former Shanghai Automotive Industry Corp. (Group), situated in Shanghai, is a producer of commercial, farm vehicles, construction machines and related parts. Their subsidiaries include: Volkswagen Shanghai, GE Shanghai and other all together 8 auto manufacturers.

China South Group is a large size corporation group, with registration capital RMB12 billion and empolying 180,000 people. They have 51 subsidiaries like CHANA Automobile Co.,Ltd, China Jialing Group etc. In over 30 countries, they have their production base or sales office. Their products have been exported to more than 100 countries and regions. They mainly produce automobile, motocycle, auto parts, optical products etc.

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