SAIC aims to sell 50,000 Roewe, MG cars in '09

Shanghai, April 10 (Gasgoo.com) Shanghai Automotive Industry Corporation (SAIC) aims to sell 50,000 Roewe and MG cars, the automaker's own-brand vehicles in 2009, said Chen Hong, president of SAIC to China Securities Journal.

SAIC sold 36,000 own-brand vehicles in 2008, a surge of 120% year on year.

The automaker will enhance its R&D on new energy vehicles in an effort to roll out its first in-house developed hybrid vehicle in three years, Chen said. To capture the opportunity of China's stimulus package for new energy vehicles, SAIC established a new energy powerstrain company with two billion yuan ($294 million) investment.

By 2010, SAIC will commercialize its own-brand hybrid vehicles, according to Chen.

The automaker aims to sell more vehicles this year and to further expand its domestic market share, said Chen when referring to the company's 2009 sales plan.