SAIC-GM sets up wholly-owned subsidiary involving many NEV-related businesses

Shanghai (Gasgoo)- SAIC General Motors ("SAIC-GM"), the joint venture between SAIC Motor and General Motors, recently build a wholly-owned subsidiary engaged in multiple businesses related to new energy vehicles (NEVs).

According to the Chinese company information database Tianyancha, the nascent company, named SAIC-GM Power Technology (Shanghai) Co., Ltd., was founded on May 11, 2023 with a registered capital of 200 million yuan.

Photo credit: SAIC-GM

The new company features a business line that extends to cover the sales of PHEV-dedicated engines, charging piles, batteries, NEVs, NEV-used accessories, production & testing facilities and battery swap facilities, the operation of EV charging infrastructures, the recycling and cascade utilization of decommissioned NEV batteries, software development, etc.

Legal representative of the new company is Zhuang Jingxiong, who currently assumes as general manager of General Motors.

SAIC Motor announced last week that Mr. Zhuang Jingxiong, who once served as deputy general manager of SAIC-GM, had been promoted to general manager of the joint venture between SAIC Motor and General Motors.

Mr. Zhuang took over the position from Mr. Wang Yongqing, who has been transferred to the position of deputy chief economist of SAIC Motor due to work requirements.