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So far, General Motors has only one joint venture partner in China - SAIC.
However, the former did not go through "to the end." A company named FAW-GM Light Commercial Vehicle Co., Ltd. passed the review of the State Administration for Industry and Commerce 15 days ago, and General Motors will jointly build a car with FAW Group.
In response to this news, Netease Automotive called the relevant person in charge of FAW Group. The official said that there will soon be official news about the cooperation between FAW and GM. At present, no news release is mainly influenced by U.S. General Motors. The U.S. government is implementing plans to rescue the auto industry. The relevant policies for loans are also under implementation. The U.S. side is seeking an appropriate opportunity to publish this news. The release of the news FAW Group is negotiating with the relevant departments of GM, but it will soon have results.
In response to this news, Netease Automotive called the relevant person in charge of FAW Group. The official said that there will soon be official news about the cooperation between FAW and GM. At present, no news release is mainly influenced by U.S. General Motors. The U.S. government is implementing plans to rescue the auto industry. The relevant policies for loans are also under implementation. The U.S. side is seeking an appropriate opportunity to publish this news. The news release FAW Group is working with?
The platform for cooperation is the ready-made FAW Red Tower. The joint venture project is internally codenamed "FGL" - FAWGM Light (commercial vehicle).
With a 15% market share strategic plan, President Wagner has always sought to develop in the commercial vehicle sector, but it lacks commercial vehicle resources.
For this reason, GM had successive contacts with Jiangling Motors, Yuejin Automobile, and Jianghuai Automobile, and eventually gained nothing. In 2002, GM obtained a 34% stake in SAIC-GM-Wuling through capital injection. Although GM also tried to own more shares of the largest mini-vehicle manufacturer in China, it did not return.
It is even difficult for GM to find additional commercial vehicle investment opportunities from its partner SAIC Group, which has formed joint ventures with trucks and passenger cars with multinational companies such as Iveco, Volvo and Fiat. In the end, GM's sights fell on FAW Hongta, China’s sixth-largest automaker, and in 2007 authorized General Motors China and FAW Hongta to talk about shares in secret.
FAW Hongta is a light vehicle production base established by FAW Group and Yunnan Hongta Group in 1997. It has an annual production capacity of 150,000 units in a double class, and has two platforms, a commercial vehicle and a passenger vehicle. Commercial vehicles include more than 600 light trucks and engineering trucks, including Liberal Card, Liberation Micro Card, Hongta Gold Card, and Hongta Micro Card; passenger vehicles have light passenger happiness messengers, MPV free wind and other products. According to the plan of FAW Group, FAW Hongta will be built as the largest auto base in the southwest.
A more detailed plan has also been released. The FAW Hongta has sold about 50,000 vehicles in 2008. After the transformation, FAW-GM Light Commercial Vehicle Co., Ltd. plans to sell 75,000 vehicles this year. In 2010, 100,000 units... In 2015, , The company will reach the annual sales target of 250,000 vehicles, 15 billion sales revenue, and 800 million yuan profit. In order to realize the production scale of 200,000 light trucks and 50,000 heavy trucks for the first phase of the project, FAW Hongta, located at Nanning North Road, Qujing City, Yunnan Province, will expand in different locations.
For this project, General Motors and FAW Group all said that there is no information available for disclosure. However, the joint venture between the two companies may slightly stimulate SAIC. According to the current product planning of FAW Hongta, it will be produced with SAIC-GM-Wuling. The degree of overlap.