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SAIC Motor, GM to ink tech agreement today
Trading Markets, 18 Aug '10

China's SAIC Motor and U.S.-based General Motors will sign an agreement in Shanghai, east China today 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 (SAIC) Group, is to deepen the cooperation with the US auto giant after both sides set up a 50-50 joint venture - General Motors SAIC Investment - 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 24th. After being charged fully, it can run for about 40 kilometres.

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.