Science Fair Project Encyclopedia
Shanghai Automotive Industry Corporation
Shanghai Automotive Industry Corporation (上海汽车工业(集团)总公司 or 上汽) (SAIC) is one of the "big 3" Chinese automakers. SAIC partnered with General Motors to form GM Shanghai and the Pan-Asia Technical Automotive Center, and also owns 20 percent of Chery, another Chinese automaker. SAIC also partnered with Volkswagen Group in the formation of Volkswagen Group China.
In August, 2004, it was learned that SAIC was in talks to buy Britain's MG Rover. In November, it was announced that SAIC could take a 70 per cent stake in a joint venture company shared with MG Rover in return for its £1 billion investment. This followed news that SAIC had bought 49 per cent of the South Korea's fourth largest auto manufacturer Ssangyong.
10-26-2009 08:16:03
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The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details