China's SAIC To Buy Stake in GM India?


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350Z

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Rumours are flying thick and fast in the Chinese media that Shanghai Automotive Industry Corporation has bought a controlling stake in GM India's Talegaon plant and is the biggest shareholder of this greenfield facility which can produce 140,000 units per annum.

According to company sources, SAIC has just finished formalities if this deal and a public announcement can be expected soon. SAIC, which partnered with GM to form Shanghai GM, SAIC-GM-Wuling Automobile and the Pan-Asia Technical Automotive Center. SAIC also partnered the VW Group in the formation of the Shanghai Volkswagen Automotive, has several subsidiaries and makes a wide range of products from commercial vehicles to mini-cars.

By joining hands with GM India, SAIC has immediate access to the Indian market for its products. According to sources, the first model to come out of the Talegaon plant from the new shareholders will be the SAIC-GM-Wuling mini-car. There are several other projects being evaluated which include a wide range of models from China, but nothing has been confirmed. GM India is silent on the subject.

Source: Autocar India

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350Z
 
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Yea guys its better china not to invest in India.There is also a rumor going around that there must be a war between India and China.

Karthik
Its not a rumour, Its actually true that China is getting its troop ready in the border of India!

When asked about that, they claim that its for their own safety [frustration]
 
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Yeah! They are the biggest threat to us and probably to the world too. Be it the economic growth or the poor quality products ruining people.

I too expect an aggressive stance by China against us.
 
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General Motors (GM) is currently in an advanced stage of talks with its partners in China regarding a plan to launch their cars in India. In fact, GM had initiated talks with its China based partners Shanghai Automotive Industry Corp (SAIC) and Wuling around eight months earlier. The above mentioned companies have a three-way tie-up with GM in China called as SAIC-GM-Wuling Automobile Co.

According to Karl Slym, President and Managing Director, GM India,
now the company knows what can work in India and what cannot. He further added that they are currently at a point from where they will be able to make a decision very soon.
SAIC-GM-Wuling Automobile Co currently sells passenger vehicles, commercial vehicles, small trucks and the Chevrolet Spark small car.
Karl Slym also said that they also would be very successful if GM can adapt them through their engineering centre into India.

Source - Motoroids
 

vijay

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GM to transfer half of GM's India operations to Chinese company SAIC

General Motors Co will make a major announcement on Friday on its relationship with its Chinese partner after news it was near a deal to sell majority control of its China venture to SAIC Motor Corp.

GM said it would hold a media briefing at 0900 GMT on "some important GM news", which a GM spokeswoman said would relate to SAIC, although she declined to give further details.

Sources with knowledge of the situation said on Thursday that GM was soon expected to announce a deal to sell 1 percent of its 50-50 China joint venture to SAIC, China's biggest automaker, and to transfer half of GM's India operations to the Chinese company.

The deals would give GM an infusion of cash as it restructures after emerging from bankruptcy in July, while reshaping its profile in two of the world's fastest growing auto markets.

GM said the media briefing would be hosted by Nick Reilly, GM executive vice president and president of GM International Operations.

http://in.news.yahoo.com/137/20091204/736/tnl-gm-to-brief-media-sources-say-china.html
 
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General Motors India to introduce commercial vehicles

GM has entered into a collaboration with Shanghai Automotive Industry Corporation (SAIC) to develop and manufacture commercial vehicles and other competitive products for India and export markets.

The tie-up will give GM India access to mini-commercial vehicles and other products from the stable of GM’s joint ventures in China. These will be produced at GM India’s Talegaon and Halol plants alongside GM’s portfolio of models for India and global markets. The collaboration is expected to be finalised shortly.

Commenting on the advantages of the tie-up, Karl Slym, president and managing director of GM India, said: “By combining the resources of GM in India with those of our partners in China, Korea and across the globe, we can respond faster to the evolving domestic market than ever before and also have the products to support our export desires. This is an excellent opportunity for GM India and the tie-up will enable us to offer new and exciting products faster and in a greater number of segments to our valued customers in India.”

Nick Reilly, GM executive vice-president and president of GM International Operations. Said: “Over the past decade, GM and SAIC have created one of the world's most successful automotive industry partnerships in China and cooperation in Korea. We look forward to bringing our model for success to India, which is one of the world’s most vibrant emerging vehicle markets.”

http://autocarindia.com/new/Information.asp?id=3837
 
Thread Starter #13

350Z

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China's SAIC (Shanghai Automotive Industry Corp.) has signed an agreement with General Motors India and entered into a Joint Venture. Read this for more details:

""SAIC will now have a joint MD to co-manage Indian operations for General Motors India. The joint venture will bring in some changes in the board and SAIC will have a bigger say.
In a media statement issued, GM India, managing director, Karl Slym said, “Yes, we will be recasting the board of GM India soon. The changes will likely happen in the next board meeting.” The current board members consists of GM members but soon the board will have equal participation from both GM and SAIC.
Chinese automakers who have largely remained silent all these years have recently gone aggressive, with earlier Chinese company Geely taking over Volvo and now the country seems to be keen on entering India as well.
SAIC will be an aggressive member of GM India and will handle running of its operations. It remains to be seen how Indian customers react to the entry of Chinese auto makers in the country with such a strong alliance."" (courtesy :carwale.com)


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350Z
 
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It might not compromise the quality as if we see anything made in china, we only think of low cost and low on quality but the there are chinese companies which provide world class products.
 
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