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SAIC Motor to Invest US$1.76B Over 3-5 Years for New Energy Vehicles
3 July 2009
Shanghai Daily. SAIC Motor, China’s largest automaker, plans to invest 12 billion yuan (US$1.76 billion) in the next three to five years to develop new-energy vehicles.
The investment will divvied up between 41 projects under its blueprint for environmentally friendly vehicles and SAIC plans to pour 2.1 billion yuan [US$307 million] into commercializing these cars this year, it said.
At an event in May, SAIC outlined short-term objectives for the introduction of new energy vehicles:
- 2010 launch of Roewe 750 mild hybrid sedan with a boost in fuel economy of about 20%
- Proving nearly 1,000 units of new energy vehicles (all electric, ultracapacitor, fuel cell and hybrid) for the World Expo 2010 Shanghai
- 2012 launch of plug-in hybrid version of the Roewe 550 mid-class sedan with up to a 50% reduction in fuel consumption
- 2012 introduction of SAIC self-developed electric vehicles
July 3, 2009 in Brief | Permalink | Comments (0) | TrackBack (0)
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