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SAIC plans to protect rights against suit

Business | Automobile
2009-4-2

SHANGHAI Automotive Industry Corp said it would protect its legitimate rights in defending itself against a lawsuit filed by smaller shareholders of its South Korean unit, Ssangyong Motor Corp, who are seeking 1-billion-won...

SAIC and FAW may be prompted to buy rivals

Business | Automobile
2009-2-26

CHINA may encourage Shanghai Automotive Industry Corp (Group) and China FAW Group Corp, its two biggest auto makers, to buy rivals in a bid to revive the car industry, according to two people familiar with the plan. ...

Major local SOEs plan salary cuts amid crisis

Business | Asset management/M&A
2009-2-2

NINE major local state-owned companies, including Shanghai Automotive Industry Corp (Group), have announced measures such as cutting executives' salaries in the face of a financial crisis. "Executives should share...

Auto firms team up for Expo site

Metro | World Expo
2009-1-20

EXPO visitors will have the chance to see what vehicles may look like in 2030 in a pavilion being built by the Shanghai Automotive Industry Corp and General Motors. The two car firms yesterday unveiled the design...

SAIC denies it stole S. Korean tech

Business | Automobile
2009-1-16

SHANGHAI Automotive Industry Corp yesterday dismissed allegations that it stole technology from its South Korean auto-making affiliate, claiming the "technology exchange" was a normal commercial activity. "The...

SAIC denies looking at buying GM

Business | Automobile
2008-12-3

SHANGHAI Automotive Industry Corp yesterday denied it is considering buying General Motors Corp after it and China's Dongfeng Motor Corp were reported to be potential buyers of GM, the world's biggest car maker that...

SAIC gets go-ahead for share transfer

Business | Automobile
2008-10-27

SHANGHAI Automotive Industry Corp (Group), China's largest auto maker, has received government approval to transfer shares in a listed unit to Nanjing Automobile Group Corp. Shanghai Auto received notice recently...

SAIC injects auto part assets in Bashi

Business | Automobile
2008-6-24

SHANGHAI Automotive Industry Corp will inject 8.8-billion-yuan (US$1.28 billion) auto part assets into Shanghai Bashi Industrial Co. Bashi is expected to sell 1.15 billion new shares, at 7.67 yuan each, to SAIC...

SAIC plans parts deal with local bus company

Business | Automobile
2008-6-17

SHANGHAI Automotive Industry Corp is seeking to list its car-parts assets through a local bus company, backed by a plan of the local government to restructure its auto-related units. Shanghai Bashi Industrial...

SAIC's own sports car

Business | Automobile
2008-6-4

SHANGHAI Automotive Industry Corp debuted its latest concept sports car at an international auto parts exhibition in Shanghai, which may likely be the city's first self-designed luxury sports car. The model,...