Sunwin is a vehicle division of the Chinese company SAIC Motor which provides buses and trolleybuses for bus routes in Shanghai . However, Sunwin buses were also built in other cities outside of Shanghai.
68-453: The first agreements between SAIC and Volvo were signed in 1996, forming the basis for the later creation of a joint-venture company. This agreement was created with the guidance of Shanghai Municipal government and various national level commissions. A final agreement on forming the joint-venture was signed on 2000/6/30. The predecessor bus manufacturing companies in Shanghai were consolidated in
136-1013: A temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are " co-venturers ". The venture can be a business JV (for example, Dow Corning), a project/asset JV intended to pursue one specific project only, or a JV aimed at defining standards or serving as an "industry utility" that provides a narrow set of services to industry participants. Some major joint ventures include United Launch Alliance , Vevo , Hulu , Virgin Media O2 , Penske Truck Leasing , and Owens-Corning . According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates . He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to
204-439: A 2.2 percent average ROA, while wholly owned and controlled affiliates in the U.S. only realized a 0.7 percent ROA." In European law , the term "joint venture" is an exclusive legal concept, better defined under the rules of company law . In France , the term "joint venture" is variously translated as "association d'entreprises", "entreprise conjointe", "coentreprise" or "entreprise commune". A JV can be brought about in
272-451: A 50% stake each, to learn from foreign developments and provide a superior bus product to the domestic Chinese market, which lacked a suitable low-floor product. These buses were widely introduced for the APEC China 2001 event, and became a symbol of safe, quality, environmental and aesthetic product. The goal was to be able to build 2000 city buses and 500 intercity buses per year. In 2001,
340-540: A 77-day-long sit in . In 2010, SAIC produced 3.58 million units, the largest output of any China-based automaker that year. In June 2010, Magneti Marelli and Shanghai Automobile Gear Works (SAGW) officially launched a new joint venture plant in the Jiading district near Shanghai, China. SAGW, the main Chinese manufacturer of transmissions for the automotive sector, is a subsidiary of SAIC Motor. In February 2011, SAIC unveiled
408-505: A Korean SUV-maker, Ssangyong, soured. In January 2009, after an additional US$ 45 million was provided to it by SAIC, SsangYong Motor Company was placed into receivership in Korea. Courts might have mandated SAIC reduce its ownership, and by 2010 a 51.33% share of the Korean company had become a 10% one. The 2009 Ssangyong failure also saw riot police quell protesting Ssangyong workers who staged
476-421: A cheaper SWB6116 bus with the permission of Volvo to use their brand on it. This was built with the technologies gained from constructing Volvo buses, and was intended to introduce the bus into more markets, where better products were unaffordable. Sunwin had originally intended to participate in the emerging BRT market of China, and gain up to 85% of the Chinese market in 2005. However, in 2006, its market share
544-517: A company. By its formation, the JV becomes a new entity with the implications that: On the receipt of the Certificate of Incorporation, a company can commence its business. This is a legal area and is fraught with difficulty as the laws of countries differ, particularly on the enforceability of "heads of" or shareholder agreements. For some legal reasons, it may be called a Memorandum of Understanding . It
612-559: A major role in the development of Roewe products. However in June 2019, SAIC Motor closed the UK Technical Centre making over 300 engineers redundant in the process. Joint venture A joint venture ( JV ) is a business entity created by two or more parties, generally characterized by shared ownership , shared returns and risks , and shared governance. Companies typically pursue joint ventures for one of four reasons: to access
680-635: A new North American Operations Center in Birmingham, Michigan. The opening ceremony was attended by Rick Snyder , Governor of Michigan , Oakland County Executive L. Brooks Patterson, and senior executives from General Motors and SAIC Motor. The 30,000-square-foot, three-story facility will house nearly 100 staff and focus on sourcing components. SAIC has numerous production facilities in China, including sites in: Chongqing , Liuzhou , Qingdao , Shanghai , Shenyang , and Yantai . It also had an assembly plant in
748-403: A new commercial vehicles marque, Maxus . In 2011, SAIC produced 3.97 million vehicles, the largest output of any China-based automaker that year. In 2012, SAIC retained its top spot among domestic rivals by producing around 3.5 million units. In 2023, SAIC received the equivalent of US$ 560 million in state subsidies . In July 2023, Audi and SAIC Group announced their partnership that
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#1732869855597816-419: A new market, particularly emerging market ; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. Most joint ventures are incorporated, although some, as in the oil and gas industry , are "unincorporated" joint ventures that mimic a corporate entity. With individuals, when two or more persons come together to form
884-485: A principal disadvantage is absence of an interested and influential Chinese party. As of the 3rd Quarter of 2004, WFOEs had replaced EJVs and CJVs as follows: (*)=Financial Vventures by EJVs/CJVs (**)=Approved JVs These enterprises are formed under the Sino-Foreign Investment Act. The capital is composed of value of stock in exchange for the value of the property given to the enterprise. The liability of
952-564: A variety of brands . Brands that are considered "self-owned" by SAIC include IM , Maxus , MG , Rising Auto , Roewe , Baojun , Wuling , Hongyan , and Sunwin . SAIC launched a luxury EV brand "IM" (dubbed "Zhiji Motor" in Chinese) jointly developed with Shanghai's Pudong New Area government and Alibaba on January 13, 2021. According to SAIC Motor, "IM" stands for Intelligence in Motion. MG Motor designs, develops and markets cars sold under
1020-455: Is a Chinese state-owned automobile manufacturer headquartered in Anting , Shanghai . Founded in 1955, it is currently the largest of the " Big Four " state-owned car manufacturers of China ahead of FAW Group , Dongfeng Motor Corporation , and Changan Automobile , with sales of 5.02 million vehicles in 2023. The company traces its origins to the early years of the Chinese automobile industry in
1088-503: Is a brand specialized in producing passenger buses and trolleybuses . In 2021, SAIC announced an increase in its holdings of Nanjing Iveco (Naveco). SAIC's subsidiary, Nanjing Automobile Group holds a 50% stake, while SAIC itself holds 30.1%, and IVECO S.P.A. holds 19.9%. SAIC's ownership of Naveco has now risen to 80.1%, making the Italian brand a strategic investor. SAIC participates in cooperative efforts with foreign automakers that see
1156-404: Is allowed to enter into contracts with appropriate government authorities to acquire land use rights, rent buildings, and receive utility services. In this it is more similar to a CJV than an EJV. WFOEs are expected by PRC to use the most modern technologies and to export at least 50% of their production, with all of the investment is to be wholly provided by the foreign investor and the enterprise
1224-495: Is also the largest shareholder of SAIC-GM-Wuling (SGMW), a joint venture selling Wuling and Baojun branded vehicles. In 2021, SAIC self-owned brands contributes 52% of SAIC's sales. The company ranked 84th on the Fortune Global 500 list in 2023. Including SGMW, it was also the third-largest plug-in electric vehicle ( battery electric and plug-in hybrid ) company and second-largest battery electric vehicle manufacturer in
1292-592: Is described below. The EJV Law is between a Chinese partner and a foreign company. It is incorporated in both Chinese (official) and in English (with equal validity), with limited liability. Prior to China's entry into WTO – and thus the WFOEs – EJVs predominated. In the EJV mode, the partners share profits, losses, and risk in equal proportion to their respective contributions to the venture's registered capital. These escalate upwardly in
1360-465: Is done in parallel with other activities in forming a JV. Though dealt with briefly for a shareholders' agreement , some issues must be dealt with here as a preamble to the discussion that follows. There are also many issues which are not in the Articles when a company starts up or never ever present. Also, a JV may elect to stay as a JV alone in a "quasi partnership" to avoid any nonessential disclosure to
1428-464: Is what will happen if the firm is dissolved, if one of the partners dies, or if the firm is sold. Often, the most successful JVs are those with 50:50 partnership with each party having the same number of directors but rotating control over the firm, or rights to appoint the Chairperson and Vice-chair of the company. Sometimes a party may give a separate trusted person to vote in its place proxy vote of
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#17328698555971496-505: Is within his total control. WFOEs are typically limited liability enterprises. Like with EJVs, but the liability of the directors, managers, advisers, and suppliers depends on the rules which govern the Departments or Ministries which control product liability, worker safety or environmental protection. An advantage the WFOE enjoys over its alternates is enhanced protection of its know-how but
1564-496: The MG marque . Roewe was introduced by SAIC in 2006. It is sold in most export markets outside China under the MG Motor marque. Rising Auto was originally the "R Brand" in 2020, an offshoot of SAIC 's Roewe brand for electric vehicles. It was operated as an independent brand since 2021 but rolled back into Roewe in 2024. It is currently positioned as Roewe's premium product line. Maxus
1632-476: The World Trade Organization (WTO) around 2001 has had profound effects on foreign investment. Not being a JV, they are considered here only in comparison or contrast. To implement WTO commitments, China publishes from time to time updated versions of its "Catalogs Investments" (affecting ventures) prohibited, restricted. The WFOE is a Chinese legal person and has to obey all Chinese laws. As such, it
1700-534: The Wuling and Baojun brands. SGMW has recently found great success as an electric vehicle manufacturer — in 2021, the venture's Wuling Hongguang Mini EV city car was the best-selling electric car in China by volume. SAIC Hongyan was established in January 2003 as Chongqing Hongyan and traces its origins back to a Chinese manufacturer established in 1965. The company is focused on producing heavy trucks. SAIC Sunwin
1768-450: The "constitution" of a company in these countries. The articles of association regulate the interaction between shareholders and the directors of a company and can be a lengthy document of up to 700,000 or so pages. It deals with the powers relegated by the stockholders to the directors and those withheld by them, requiring the passing of ordinary resolutions , special resolutions and the holding of Extraordinary General Meetings to bring
1836-568: The 1940s, and SAIC was one of the few carmakers in Mao's China , making the Shanghai SH760 . Currently, it participates in the oldest surviving sino-foreign automotive joint venture with Volkswagen ( SAIC-Volkswagen ) since 1984, and in addition operates a joint venture with General Motors ( SAIC-GM ) since 1998. It also produces and sells passenger vehicles under its own branding, such as Roewe , MG , Maxus / LDV , Rising Auto , and IM Motors . It
1904-552: The 2000s, SAIC made several acquisitions in Korea. In 2002 it participated in GM's purchase of Korean automaker Daewoo, acquiring a 10% stake in the newly formed GM Daewoo company for US$ 59.7 million, and in 2004 it also assumed control of an ailing South Korean automaker, SsangYong Motor , paying US$ 500 million for 48.9% ownership of the company. Around this time SAIC created a new holding company for its subsidiaries employed in passenger car production, Shanghai Automotive Group. In
1972-456: The DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies' wholly owned and controlled affiliates (the vast majority of which are wholly owned) realized a slightly lower 5.2 percent ROA. The same story holds true for investments by foreign companies in the U.S., but the difference is more pronounced. U.S.-based joint ventures realized
2040-818: The EV platform from IM Motors will be introduced into Audi's electric models. In September 2023, the European Commission (EC) launched an anti-subsidy investigation into Chinese electric vehicle manufacturers, including SAIC which exported electric vehicles in high volume under the MG brand to the region. In June 2024, the EC completed its investigation and announced new tariffs for Chinese-built electric vehicles (on top of an existing 10 percent tariff for all foreign-made vehicles regardless of engine type), which went into effect on 4 July 2024. Electric vehicles made by SAIC Motor would be subjected to
2108-626: The Founder at board meetings. Recently, in a major case the Indian Supreme Court has held that Memorandums of Understanding (whose details are not in the articles of association) are "unconstitutional" giving more transparency to undertakings. A JV is not a permanent structure. It can be dissolved when: Joint ventures are risky forms of business partnerships . Literature in business and management has paid attention to different factors of conflict and opportunism in joint ventures, in particular
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2176-409: The JV's life, giving the option to the foreign investor, by holding higher equity, obtains a faster rate of return with the concurrent wish of the Chinese partner of a later larger role of maintaining long-term control. The parties in any of the ventures, EJV, CJV or WFOE prepare a feasibility study outlined above. It is a non-binding document – the parties are still free to choose not to proceed with
2244-545: The MG Motor UK Longbridge plant as the first MG 6 to be produced in the United Kingdom came off the production line, but ended in 2016 when SAIC moved production to China. It retains a technical subsidiary SAIC Motor UK on site. On July 19, 2023, SAIC's Philippines subsidiary SAIC Motor Philippines, Inc. has appointed the new distributor and importer of MG vehicles and services in the country with launch of
2312-528: The US) covering know-how and trademarks and supply-of-equipment agreements. The minimum equity is prescribed for investment truncated, where the foreign equity and debt levels are: There are also intermediary levels. The foreign investment in the total project must be at least 25%. No minimum investment is set for the Chinese partner. The timing of investments must be mentioned in the Agreement and failure to invest in
2380-592: The United Kingdom, the Longbridge plant . It also has a plant in Chonburi , Thailand, Cikarang , Indonesia, and Halol , India. SAIC operated a large research and development centre in the United Kingdom, the SAIC Motor UK Technical Centre , which as of 2012 employed around 275 engineers and 25 designers. The UK Technical Centre was the principal site worldwide for the development of MG cars, also playing
2448-580: The all-new 2024 MG4 EV and MG Marvel R for the local market by October 2023. Aside from importation, distribution, and aftersales operations, SMP’s functions also include the management of MG’s dealership network in the Philippines. This is currently composed of 42 authorized dealer locations and the addition of four more dealerships before the close of 2023, and a goal to have 60 MG dealerships running by 2025. In June 2012, SAIC's United States-based subsidiary Shanghai Automotive Industries Corp USA, Inc. opened
2516-461: The cases, the status of the formed enterprise is that of a legal Chinese person which can hire labor directly as, for example, a Chinese national contactor. The minimum of the capital is registered at various levels of investment. Other differences from the EJV are to be noted: Convenience and flexibility are the characteristics of this type of investment. It is therefore easier to find co-operative partners and to reach an agreement. With changes in
2584-527: The city more than doubled its contribution to the national output of automotive components. In 1987, the only local parts used in one car, the Volkswagen Santana , were tires, radio, and antenna, but by 1998 over 90% of the components used in its manufacture were locally sourced. A goal set by the Shanghai Municipal government, creation of a local parts industry is an example of the influence that
2652-452: The company established itself as one of the leading Chinese automakers. During this period, SAIC effectively built an entire modern automotive component supply chain in Shanghai from scratch, and the number and quality of locally produced auto parts rose significantly. Cars that were previously assembled in China from knock-down kits provisioned by Volkswagen became products built from parts produced in Shanghai, and between 1990 and 1996
2720-570: The death of Mao Zedong in 1976, initiatives in foreign trade began to be applied, and law applicable to foreign direct investment was made clear in 1979, while the first Sino-foreign equity venture took place in 2001. The corpus of the law has improved since then. Companies with foreign partners can carry out manufacturing and sales operations in China and can sell through their own sales network. Foreign-Sino companies have export rights which are not available to wholly Chinese companies, as China desires to import foreign technology by encouraging JVs and
2788-495: The directors' decision to bear. A Certificate of Incorporation or the Articles of Incorporation is a document required to form a corporation in the U.S. (in actuality, the state where it is incorporated) and in countries following the practice. In the US, the "constitution" is a single document. The Articles of Incorporation is again a regulation of the directors by the stock-holders in
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2856-468: The following major ways: In the UK , India , and in many common law countries, a joint-venture (or else a company formed by a group of individuals) must file its memorandum of association with the appropriate authority. This is a statutory document which informs the public of its existence. It may be viewed by the public at the office in which it is filed. Together with the articles of association , it forms
2924-517: The formal establishment of Shanghai Volkswagen Automotive Co Ltd in March 1985 allowed it to produce competitive cars with foreign technology. Early success at SAIC were a result of guidance provided by local Shanghai authorities; at one time SAIC was simply an extension of the Shanghai Municipal government. For these two reasons and more, SAIC grew swiftly. In the 11 years leading to 1996, annual production capacity increased ten-fold to 300,000 units/year, and
2992-423: The government or the public. Some of the issues in a shareholders' agreement are: There are many features which have to be incorporated into the shareholders' agreement which is quite private to the parties as they start off. Normally, it requires noтуОЧ submission to any authority. The other basic document which must be articulated is the Articles, which is a published document and known to members. This repeats
3060-466: The highest tariff of 38.1 percent. On 26 June, after receiving more information, the EU reduced the proposed tariffs from 38.1 percent to 37.6 percent for SAIC. The tariffs subjected to SAIC vehicles are the highest among Chinese electric vehicle manufacturers that are affected. SAIC released a statement condemning the decision, noting that the tariffs are a form of unfair market discrimination that went against
3128-547: The indicated time, draws a penalty. Co-operative Joint Ventures (CJVs) are permitted under the Sino-Foreign Co-operative Joint Ventures. Co-operative enterprises are also called Contractual Operative Enterprises. The CJVs may have a limited structure or unlimited – therefore, there are two versions. The limited-liability version is similar to the EJVs in status of permissions – the foreign investor provides
3196-583: The influence of parent control structure, ownership change, and volatile environment. Government procurement regulations, such as the Federal Acquisition Regulation (FAR) in the United States, may specify how joint ventures are to be approached as suppliers or confirm that a joint venture or other form of contractor partnering is seen as a "desirable" arrangement for supplying to government. The FAR states that The Government will recognize
3264-405: The integrity and validity of contractor team arrangements [including joint ventures], provided the arrangements are identified and company relationships are fully disclosed in an offer or, for arrangements entered into after submission of an offer, before the arrangement becomes effective. The Government will not normally require or encourage the dissolution of contractor team arrangements. Under
3332-705: The latest technologies. Under Chinese law, foreign enterprises are divided into several basic categories. Of these, five will be described or mentioned here: three relate to industry and services and two as vehicles for foreign investment. Those five categories of Chinese foreign enterprises are: the Sino-Foreign Equity Joint Ventures (EJVs), Sino-Foreign Co-operative Joint Ventures (CJVs), Wholly Foreign-Owned Enterprises (WFOE), although they do not strictly belong to Joint Ventures, plus foreign investment companies limited by shares (FICLBS), and Investment Companies through Foreign Investors (ICFI). Each category
3400-477: The law, it becomes possible to merge with a Chinese company for a quick start. A foreign investor does not need to set up a new corporation in China. Instead, the investor uses the Chinese partner's business license, under a contractual arrangement. However, under the CJV, the land stays in the possession of the Chinese partner. There is another advantage: the percentage of the CJV owned by each partner can change throughout
3468-506: The lead-up to forming Sunwin, reforming the Shanghai Bus Manufacturing Company and Shanghai Feiyi Automobile Manufacturing Company into Shanghai Bus Manufacturing Company, Ltd. The new company had a total of 3500 workers and a capacity to manufacture 3000 bodies and chassis each per year. Sunwin was established in 2000/8/8 as a joint venture between SAIC Motor (its bus division then Shanghai Bus Factory) and Volvo with
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#17328698555973536-517: The local government has had on the development of SAIC. In June 1997, SAIC formed a second major joint venture, Shanghai General Motors Co Ltd, with General Motors. The new joint venture began operations in 1998, and helped to drive a doubling in SAIC's vehicle production between 2000 and 2004. SAIC also created joint ventures with component suppliers, such as the American Visteon . At the start of
3604-482: The main technology introduced was the Volvo B7RLE and B7R bus and chassis, respectively. These developments allowed Sunwin to design buses, which through using this chassis, were quieter, conforming to Euro II standards , more durable and being more comfortable. Based on the newly introduced B7R chassis and body designed in collaboration with Volvo, Sunwin started building CNG buses conforming to Euro III standards in
3672-402: The majority of funds and technology and the Chinese party provides land, buildings, equipment, etc. However, there are no minimum limits on the foreign partner which allows him to be a minority shareholder. The other format of the CJV is similar to a partnership where the parties jointly incur unlimited liability for the debts of the enterprise with no separate legal person being created. In both
3740-589: The middle of the decade, SAIC attempted to acquire the British automaker MG Rover , but in 2005 was outbid by another Chinese automaker, Nanjing Automobile . SAIC did manage to obtain some MG Rover technology that was incorporated into a new line of luxury sedans sold under the Roewe marque, and it subsequently purchased the winning bidder. While the company saw sales success in the late 2000s, with 2.72 million vehicles sold in 2009, its 2004 purchase of an ownership stake in
3808-404: The new products to average an in-service rate of 98% by streamlining and removing the previously convoluted maintenance procedures. The new low-entry configuration SWB6125 was the first vehicle in China to have an independent air-conditioning system. Although Volvo technologies were very advanced, the price was too high for many Chinese cities, at ¥800000. To cater to other cities, Sunwin developed
3876-464: The principles of free trade . In July 2024, SAIC Motor issued a statement stating that it would formally request the European Commission to hold a hearing on the anti-subsidy investigation. The company claimed that the European Commission's investigation asked SAIC to disclose its commercially sensitive information including battery-related chemical formulas, which SAIC declined as it is beyond
3944-796: The products of large international companies such as General Motors and Volkswagen made and sold in China. A joint venture between SAIC and Volkswagen Group . It was founded in 1984 and produces cars under the Volkswagen, Skoda, and Audi brands. This joint venture between SAIC and General Motors manufactures and sells Chevrolet , Buick , and Cadillac brand automobiles in Mainland China . SAIC produces MG Motors vehicles through this joint venture with Charoen Pokphand for their Thailand subsidiary. Established with Austrian technology provider TTTech in 2018 for Intelligent and Autonomous Driving solutions. On 13 April 2011, vehicle assembly resumed at
4012-471: The project. The feasibility study must cover the fundamental technical and commercial aspects of the project, before the parties can proceed to formalize the necessary legal documentation. The study should contain details referred to earlier under Feasibility Study (submissions by the Chinese partner). There is basic law of the PRC concerning enterprises with sole foreign investment controls, WFOEs. China's entry into
4080-531: The rules applicable to public procurement in the European Union , public bodies may insist that suppliers intending to provide goods and services through a joint partnership accept joint liability for the execution of the contract. According to a 2003 report of the United Nations Conference on Trade and Development , China was the recipient of US$ 53.5 billion in direct foreign investment, making it
4148-440: The same proportion as the increase in registered capital. The JV contract accompanied by the articles of association for the EJV are the two most fundamental legal documents of the project. The Articles mirror many of the provisions of the JV contract. In case of conflict the JV document has precedence. These documents are prepared at the same time as the feasibility report. There are also the ancillary documents (termed "offsets" in
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#17328698555974216-581: The same year. While Compressed natural gas (CNG) buses were fairly common worldwide then, this was still rather foreign in China. By 2003, Sunwin had already reached its initial goal of producing 2500 city buses and 500 intercity buses per year, reached in part due to the popularity of the new products, which were produced under stricter Volvo quality control. It also gained two large contracts of 2010 and 1000 buses from two bus operators in Shanghai, to be delivered over 5 and 3 years, respectively. Sunwin developed maintenance contracts along with their buses, allowing
4284-456: The scope of a normal investigation. In November 2024, SAIC Motor Passenger Vehicle, the subsidiary of SAIC, announced to roll back the Rising Auto brand into Roewe, ending its history as an independent brand. Rising would turned into a premium electric product line under Roewe. The present-day SAIC is the product of numerous mergers and corporate restructurings. SAIC sells vehicles under
4352-435: The shareholders agreement as to the number of directors each founder can appoint to the board of directors; whether the board controls or the founders; the taking of decisions by simple majority (50%+1) of those present or a 51% or 75% majority with all directors present (their alternates/ proxy ); the deployment of funds of the firm; extent of debt; the proportion of profit that can be declared as dividends; etc. Also significant
4420-426: The world's largest recipient of direct foreign investment for the first time, to exceed the US. Also, it approved the establishment of nearly 500,000 foreign-investment enterprises. The US had 45,000 projects by 2004 with an in-place investment of over 48 billion. Until recently, no guidelines existed on how foreign investment was to be handled due to the restrictive nature of China toward foreign investors. Following
4488-543: The world, with 10.5% and 13% global market share respectively in 2021. Although it has a long history, originating from an automobile assembly factory established in Shanghai sometime around World War II, SAIC, unlike domestic rivals FAW Group and Dongfeng Motors , has only recently attained a position of prominence in the Chinese vehicle industry. A small company in the 1970s, SAIC owes its rise to more than an increase in domestic demand for passenger vehicles. A cooperative agreement made with Volkswagen in 1984 followed by
4556-464: Was formed in 2011 following the acquisition of LDV Group by SAIC in 2010, and produces MPVs, pickup trucks, and SUVs for both domestic sale and global export. A joint venture between SAIC, General Motors , and Guangxi Automobile Group (previously Wuling Group) Based in Liuzhou , Guangxi Zhuang Autonomous Region , in southwestern China , it makes commercial and consumer vehicles sold in China under
4624-633: Was still 0%, and Sunwin had not yet demonstrated an adequate BRT product. Instead, the Beijing BRT purchased Changjiang-Iveco and Youngman articulated buses. In April 2018, Volvo pulled out from the joint-venture, though this move was not widely reported in media, not even by media specialising on automobiles. Despite the potential for growth in the Chinese automobile sector, Volvo was believed to be not being able to make back on its investment, hence pulling out. SAIC Motor SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation )
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