SAIC Motors newly established commercial vehicle company to develop, produce, sell and sell its own brand of commercial vehicles


SAIC Motor has started to relocate the commercial vehicle segment. According to an announcement issued by Shanghai Automotive, SAIC Motor implemented a separation of Shanghai Huizhong, a wholly-owned subsidiary of the company, and established Shanghai SAIC Commercial Vehicle Co., Ltd. The registered capital of SAIC Motor Corporation is 596 million yuan. It will develop and produce trucks and automobiles, sell self-produced products, carry out sales of commercial vehicles and more than nine passenger vehicles, trailers, chassis for automobiles, and technical consulting services for the automotive industry. , And engaged in the import and export of goods and trade.

In December 2010, Shanghai Automotive successfully raised RMB 10 billion in financing, and the new investment project included RMB 1.12 billion of self-owned commercial vehicles. The newly established SAIC Commercial Vehicle Company may be developing its own brand of commercial vehicles.

At present, SAIC's commercial vehicle layout includes such brands as Yuejin, Huizhong, Shangchai, Chongqing Hongyan, Shenwo and SAIC-GM-Wuling, but SAIC-GM-Wuling is still expanding in the micro-commuter sector. Commercial vehicle plates are still the short-board of SAIC. Many brands also lack complete development plans.

Shanghai Automotive also announced that it will jointly invest with Shanghai Tangshan Public Transport Corporation and Haixing (Tanghai) Investment Co., Ltd. to establish SAIC Tangshan Bus Co., Ltd. and settle in Lingang Industrial Park in Caofeidian New District, Tangshan. The registered capital is 170 million yuan, including Shanghai Automotive. The investment was 86.7 million yuan, accounting for 51% of the total shares.

Also announced on the same day, Shanghai Automotive also announced the establishment of a wholly-owned Shanghai Automotive Investment Co., Ltd., with a registered capital of 500 million yuan. The scope of business will involve investment and management of automobiles and related industries, other equity investments, investment consulting, and business consulting services. This will be the first industry-led PE (equity investment) in the Shanghai State-owned Assets System. According to Shanghai Automotive, the new company will mainly invest in upstream, downstream and new energy fields.

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