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An article from MNA:
U.S. officials are interested in making sure Chinese automotive technology stays out of the U.S., and for some very good reasons. The suggestion that the Trump Administration’s resolve is fading, however, sent shares of Ford Motor down in midday trading on Wednesday. Ford stock closed down 3.9% at $13.45, giving up earlier gains, while the was off 0.5%.
General Motors (NYSE:GM) and SAIC Motor agreed to extend their joint venture for another 20 years to deepen cooperation in intelligent electric vehicles and global expansion. GM signaled a renewed long term commitment to the Chinese market and global EV manufacturing through the extended SAIC-GM partnership. Separately, GM was removed as a key partner from a major new LG Energy Solution battery plant project in the US as the company adjusts its North American battery strategy. The twin moves...
General Motors and SAIC Motor have extended their SAIC-GM joint venture in China by 20 years to 2047, committing to launch at least 30 new energy vehicles by 2030 and to use China-developed technologies for both domestic and overseas markets. This shift from one-way technology transfer to “local innovation and global sharing” positions GM to tap China’s electric vehicle supply chain and engineering base as a key pillar of its worldwide product and technology roadmap. Next, we’ll examine how...
SAIC-GM will increase focus on the Buick and Cadillac brands and plan to launch at least 30 new energy vehicles in the China market by 2030.
General Motors (NYSE:GM) and SAIC Motor renewed their China joint venture for another 20 years, with a focus on new energy vehicles and global exports. The partners plan to launch at least 30 new energy vehicle models and build out GM's premium Electra sub brand from China. The renewed agreement shifts GM's China role toward local R&D, two way technology sharing, and positioning China as an export hub for next generation EVs. General Motors is only one example of how large automakers and...
Chinese auto giant SAIC Motor and the US automaker General Motors (GM) have signed an agreement to extend their joint venture (JV) partnership by 20 years to 2047.
General Motors and SAIC will extend their joint venture through 2047, betting on locally developed EVs to regain ground in the world's largest auto market.
SAIC-GM has been operating in China's automotive sector since 1997, with cumulative production and deliveries surpassing 20 million vehicles.
General Motors (NYSE:GM) has renewed its joint venture with China’s SAIC Motor for another 20 years, marking a new chapter for the partnership after a major restructuring of its operations in the Chinese market that included factory closures and a streamlined vehicle lineup. The renewed agreement preserves the companies’ 50-50 ownership structure and places greater emphasis on developing vehicles within China to better meet the preferences of local consumers.
GM has taken on considerable cost in recent years to reorganize its China business and facilitate new vehicle launches in the country.
The new unit replaces the brand’s previous importer-led structure with a wholly owned operation managed locally.
The company develops technology it describes as the “brain” for autonomous vehicles. It sells driving assistance systems to carmakers.
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