SAIC: GM Bankruptcy Has No Substantive Impact On China JV
01 Juni 2009 - 5:19PM
Dow Jones News
SAIC Motor Corp. (600104.SH) said Monday it doesn't expect
General Motors Corp.'s (GM) bankruptcy filing in the U.S. to have a
substantive impact on the two companies' vehicle-making joint
ventures in China.
GM's assets, brands and technology in China will be included in
the "New GM" when the U.S. automaker exits from bankruptcy
protection, said SAIC, China's largest automaker by sales
volume.
"SAIC has the confidence and the strength to unwaveringly
support the joint ventures' healthy and stable development," the
Chinese automaker said in a statement.
GM operates a passenger vehicle-making joint venture with SAIC
Motor and another joint venture primarily making commercial
vehicles with SAIC Motor and Wuling Automobile Co.
-By Patricia Jiayi Ho, Dow Jones Newswires; (8610)6588-5848;
patricia.ho@dowjones.com