Cars
State-owned Shanghai Automotive Industry Corp. (SAIC) has come to an agreement with Yuejin Motor Group (also state-owned…) to buy its Nanjing Automobile’s auto-assembly and component-making businesses. The deal, which is valued at 2.1 billion Yuan or approximately $286 million, will set Shanghai as one of the biggest players in China Shanghai and Nanjing
- Mg Rover Mg6 Concept Based On Roewe 550 To Debut In Shanghai
Having already announced the Roewe N1 Concept, China's Shanghai Automotive Industry Corporation (SAIC) that owns the rights to the MG Rover brand, revealed that its 2009 Shanghai Auto Show booth will also host the world premiere of the MG6 Concept....
- Saic Motors Buys 50.3% Stake In Shanghai Diesel Engine Co.
Hot on its heels from the purchase of domestic rival car maker Nanjing Auto –see here, SAIC Motors today announced that it has agreed to pay 923 million yuan ($127 million) to Shanghai Electric Group Co Ltd in order to acquire a 50.32 percent slice...
- Nanjing Restarts Mg Production In The U.k.
A couple of months after Nanjing presented the first Chinese built MG sport cars and sedans back in March and the British carmaker’s new owner announced that it’ll end the Longbridge plant's two-year production hiatus with the assembly...
- Roewe 750e: Saic Reveals Official Pics Of It's Rover 75 Based Sedan
Before some of you start screaming "COPY CAT", know that this Rover 75 based sedan is 100% legitimate. The owner of the newly established ROEWE car company is Shanghai Automotive Industrial Corp (SAIC) and it has bought the intellectual property rights...
- Ford Buys Rover Nameplate
"We feel it is in interests of our Land Rover business to have the Rover brand. We are acquiring it and we're not looking to sell it. We believe it is a valuable asset for us" That's what a Ford spokesman told Reuters concerning the company's...
Cars
China: Shanghai Automotive Buys Nanjing Auto
State-owned Shanghai Automotive Industry Corp. (SAIC) has come to an agreement with Yuejin Motor Group (also state-owned…) to buy its Nanjing Automobile’s auto-assembly and component-making businesses. The deal, which is valued at 2.1 billion Yuan or approximately $286 million, will set Of course a deal like this wouldn’t have been carried out without the consent of the all-mighty Chinese government who wants to see more mergers in China's fragmented passenger car market which kinda reminds the US and European car industry in the first half of the 20th century when there where like 50 or more independent car makers. -Continued
Interestingly, Nanjing Automobile owns MG Rover assets along with the right to the brand MG, while Shanghai Automotive (SAIC) obtained design rights for two Rover models including the 75 which it sells under the name Roewe.
- Mg Rover Mg6 Concept Based On Roewe 550 To Debut In Shanghai
Having already announced the Roewe N1 Concept, China's Shanghai Automotive Industry Corporation (SAIC) that owns the rights to the MG Rover brand, revealed that its 2009 Shanghai Auto Show booth will also host the world premiere of the MG6 Concept....
- Saic Motors Buys 50.3% Stake In Shanghai Diesel Engine Co.
Hot on its heels from the purchase of domestic rival car maker Nanjing Auto –see here, SAIC Motors today announced that it has agreed to pay 923 million yuan ($127 million) to Shanghai Electric Group Co Ltd in order to acquire a 50.32 percent slice...
- Nanjing Restarts Mg Production In The U.k.
A couple of months after Nanjing presented the first Chinese built MG sport cars and sedans back in March and the British carmaker’s new owner announced that it’ll end the Longbridge plant's two-year production hiatus with the assembly...
- Roewe 750e: Saic Reveals Official Pics Of It's Rover 75 Based Sedan
Before some of you start screaming "COPY CAT", know that this Rover 75 based sedan is 100% legitimate. The owner of the newly established ROEWE car company is Shanghai Automotive Industrial Corp (SAIC) and it has bought the intellectual property rights...
- Ford Buys Rover Nameplate
"We feel it is in interests of our Land Rover business to have the Rover brand. We are acquiring it and we're not looking to sell it. We believe it is a valuable asset for us" That's what a Ford spokesman told Reuters concerning the company's...