SAIC Motor president: considering capacity expansion
SAIC Motor Corp. (600104.SH) President Chen Hong said Sunday the company is considering expanding production capacity to meet the needs of the company's development, but has no specific timetable for new production facilities.
"The Chinese market still has a lot of potential," he said.
Speaking on the sidelines of the National People's Congress, Chen also said that with procedural requirements completed the company now holds a 50% stake in its India joint venture with General Motors Co.
SAIC and GM agreed to take their partnership overseas in late 2009, starting with the Indian market. They plan to produce small cars in India from GM's product portfolio.
Chen said they aren't currently considering expanding the partnership to any other markets.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:buyer-support@gasgoo.comSeller Service:seller-support@gasgoo.com
