Shanghai, April 16 (Gasgoo.com) Shanghai-based Baosteel, China's steel giant, recently signed deals with SAIC-GM-Wuling and other two automakers in southern China's Liuzhou city for promoting new auto-steel technologies and products in these vehicle manufacturers, Xinhua News reported.
On April 13, Baosteel chairman Xu Lejiang visited Liuzhou in Guangxi province, where he signed agreements of strategic cooperation with three local auto companies: SAIC-GM-Wuling Automobile Co., Ltd, Liuzhou Wuling Automobile Co., Ltd and Dongfeng Liuzhou Automobile Co., Ltd.
Under the deals, Baosteel will send R&D teams to work with the three companies in promoting the application of new auto-steel materials and technologies in auto development and production, with Baosteel's special steel, stainless steel and die steel to be used by these automakers.
Baosteel is the leading manufacturer and supplier of auto steels in China. Last year, the top Chinese steelmaker produced 3.32 million tons of CR auto sheet, accounting for 50.1% of the domestic market.
SAIC-GM-Wuling, General Motors' mini-vehicle joint venture in China, sold more than 1 million vehicles in 2009, and sales rose 43% to 129,489 units last month, still the top contributor to GM's China growth.
