SAIC Motor & GM inks tech agreement today
SAIC Motor, GM, inks, tech agreement, today, General Motors, technological cooperation
China's SAIC Motor Co., Ltd. (SHSE: 600104) and US General Motors (GM) will sign an agreement in Shanghai, east China on August 18 upon their technological cooperation, including the joint development and application focusing on new energy technology.
SAIC Motor, a listed arm of the Chinese leading auto conglomerate Shanghai Automotive Industry Corporation (Group) (SAIC), is to deepen the cooperation with the US auto giant after both sides set up a 50-50 joint venture General Motors SAIC Investment Limited in Hong Kong last year.
GM possesses a large amount of mature technology in the new energy field. The Volt electric vehicle, which has made a good performance in several countries and regions, is expected to be brought to China.
The EN-V electric concept car of the US auto giant made a global debut in Shanghai, east China, on March 24. After being charged fully, it can run for about 40 kilometers.
SAIC is working on the R&D of the InkaNet 3G technology, and the further cooperation will help the Shanghai-listed company accelerate its progress in technology.
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