Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: GM selling control of Chinese joint venture to SAIC, half of India operations]]>http://www.autoblog.com/2009/12/04/report-gm-selling-control-of-chinese-joint-venture-to-saic-hal/http://www.autoblog.com/2009/12/04/report-gm-selling-control-of-chinese-joint-venture-to-saic-hal/http://www.autoblog.com/2009/12/04/report-gm-selling-control-of-chinese-joint-venture-to-saic-hal/#commentsFiled under: , ,

It has been a busy week at General Motors. The week started off with CEO Fritz Henderson's abrupt resignation, then executives converged on the LA Auto Show where Bob Lutz was the keynote speaker and then the U.S. market Chevy Cruze was revealed. Now, the General is reportedly deep in negotiations halfway around the world with its Chinese partner, SAIC, to sell its partnership stake in what is now the largest auto market in the world.

Here is how the deal will reportedly break down: According to Reuters, GM will give SAIC a scant one percent of its interest in the China venture and 50% of GM's India operations. In exchange, the General would receive what amounts to about 20% of the value of the China venture. Sounds like a pretty sweet deal considering the fact that GM isn't exactly a big player in the Indian market - but there is a very big downside. If GM cedes one percent of its joint venture with SAIC, then the Detroit, MI-based automaker would no longer control its China operations. The rumored deal will contain a proviso that the General can later buy back its lost percentage for a "premium price." That sounds a little like GM just got a loan from SAIC and put up one percent of its ownership as collateral.

While GM currently has over $40 billion in its cash coffers courtesy of its recent bailout and bankruptcy, The General is in a big hurry to pay back the money it owes the government. It also has to contend with what is still a very soft auto market - not to mention Opel restructuring costs that could tally $5 billion or more. But China is also a monster part of GM's business plan, so any money gained from this deal could come at an even greater cost. We have to wonder if this deal had anything to do with Mr. Henderson's abrupt exit stage left...

[Source: Reuters]

REPORT: GM selling control of Chinese joint venture to SAIC, half of India operations originally appeared on Autoblog on Fri, 04 Dec 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinafritz hendersonFritzHendersongeneral motorsGeneralMotorsgmjoint ventureJointVenturesaicFri, 04 Dec 2009 09:00:00 EST<![CDATA[SAIC-owned MG launches MG 6, first all-new car in 14 years]]>http://www.autoblog.com/2009/11/23/saic-owned-mg-launches-mg-6-first-all-new-car-in-14-years/http://www.autoblog.com/2009/11/23/saic-owned-mg-launches-mg-6-first-all-new-car-in-14-years/http://www.autoblog.com/2009/11/23/saic-owned-mg-launches-mg-6-first-all-new-car-in-14-years/#commentsFiled under: , ,

2010 MG 6 - Click above for high-res image gallery

The last new MG was the MGF sportscar way back in 1995, and oh, what a difference 14 years makes. The MG6 is the first new MG by the company's new owner, Shanghai Automotive Industry Corp. (SAIC), and they've chosen a four-door liftback for their coming out party. About the size of a VW Golk/Skoda Octavia, the MG6 will be powered by either a naturally aspirated 1.8-litre four-cylinder with 133 brake horsepower and 135 pound-feet of torque, or a turbocharged 1.8-liter with 160 bhp and 158 lb-ft. Shifting is said to be via five-speed automatic.

The MG 6 will go on sale in China first, but it has reportedly been engineered to meet global safety standards and is expected to be exported. SAIC hasn't given any numbers or even locations for export yet, but the company president said they plan to produce it in the UK by the end of next year.


Gallery: 2010 MG6


[Source: Autoblog China (translated)]

SAIC-owned MG launches MG 6, first all-new car in 14 years originally appeared on Autoblog on Mon, 23 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2010 mg62010Mg6chinaGuangzhouGuangzhou 2009Guangzhou Auto ShowGuangzhou2009GuangzhouAutoShowhatchbackMGMG 6mg6saicMon, 23 Nov 2009 19:00:00 EST<![CDATA[REPORT: Chinese automaker SAIC accused of hybrid tech theft by SsangYong]]>http://www.autoblog.com/2009/11/12/report-chinese-automaker-saic-accused-of-hybrid-tech-theft-by-s/http://www.autoblog.com/2009/11/12/report-chinese-automaker-saic-accused-of-hybrid-tech-theft-by-s/http://www.autoblog.com/2009/11/12/report-chinese-automaker-saic-accused-of-hybrid-tech-theft-by-s/#commentsFiled under: , ,



In the beginning of the decade, before SsangYong got into really deep doo-doo, the Korean automaker began work on a hybrid control unit (HCU) with German engineering firm FEV. From 2004 to 2008, as the research continued, the South Korean government provided nearly half of the financial resources for the development of the technology. In 2005, as Ssangyong's stumbles began, Chinese automaker SAIC took a majority stake in the Korean company.

A year later, in 2006, SAIC saw the success SsangYong was having with the HCU and allegedly pressured SsangYong engineers to hand over the technology. And that, according to Korean state prosecutors, violated laws regarding the transfer of "homegrown technologies... without state permission." Since the Korean government paid for almost half of the tech, SAIC's rights to the HCU needed to be approved by the Korean government.

Seven indictments have been brought against SsangYong engineers, none of whom were financially compensated for revealing the HCU plans to SAIC. It appears to be a simple case of bullying. No action is planned against SAIC. Hat tip to Regular Man!

[Source: Korea Times | Image: Jung Yeon-Je/AFP/Getty]

REPORT: Chinese automaker SAIC accused of hybrid tech theft by SsangYong originally appeared on Autoblog on Thu, 12 Nov 2009 18:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinagovernmentintellectual propertyIntellectualPropertylegalsaicshanghai automotive industry corpShanghaiAutomotiveIndustryCorpsouth koreaSouthKoreassangyongThu, 12 Nov 2009 18:32:00 EST<![CDATA[SAIC to buy Opel Insignia platform for Roewe?]]>http://www.autoblog.com/2009/06/24/saic-to-buy-opel-insignia-platform-for-roewe/http://www.autoblog.com/2009/06/24/saic-to-buy-opel-insignia-platform-for-roewe/http://www.autoblog.com/2009/06/24/saic-to-buy-opel-insignia-platform-for-roewe/#commentsFiled under: , , ,


Chinese-spec Buick Regal - Click above for high-res image gallery

According to an unnamed source from the 21st Century Business Herald in China (via Gasgoo), Shanghai Automotive Industry Corp (SAIC) has been in talks with General Motors since last March to purchase the Eplison II platform (as used by the latest Opel Insignia and the Chinese-market Buick Regal) for its next Roewe 750 midsize sedan. The fact that SAIC is GM's Chinese partner may seem to lend a bit of credibility to these rumors, though SAIC and General Motors have both initially denied any knowledge of the platform-sharing plan.

While all of Roewe's sedans have so far been based on the aging underpinnings of the former Rover brand from the U.K., recent concepts - such as the attractive N1 from the Shanghai Motor Show earlier this year - show that the Chinese automaker is serious about designing attractive machines for its home market and beyond.


Gallery: 2009 Chinese-spec Buick Regal


[Source: Gasgoo]

SAIC to buy Opel Insignia platform for Roewe? originally appeared on Autoblog on Wed, 24 Jun 2009 14:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buick regalBuickRegalgmgm epsilon 2gm epsilon IIgm epsilon platformGmEpsilon2GmEpsilonIiGmEpsilonPlatformopel insigniaOpelInsigniaroeweroewe 750roewe n1Roewe750RoeweN1saicshanghai automotiveshanghai automotive industry corpshanghai automotive industry corporationShanghaiAutomotiveShanghaiAutomotiveIndustryCorpShanghaiAutomotiveIndustryCorporationWed, 24 Jun 2009 14:01:00 EST<![CDATA[Ssangyong preparing to lay off nearly 40% of workforce by end of June? ]]>http://www.autoblog.com/2009/04/24/report-ssangyong-prepares-to-lay-off-nearly-40-of-workforce-by/http://www.autoblog.com/2009/04/24/report-ssangyong-prepares-to-lay-off-nearly-40-of-workforce-by/http://www.autoblog.com/2009/04/24/report-ssangyong-prepares-to-lay-off-nearly-40-of-workforce-by/#commentsFiled under: ,



Ssangyong Motor Company is still struggling to gain traction after it ceased production late last year and slipped into receivership earlier this year. It restarted its production lines in February, but even the company director, Lee Yu-Il, says volume is still far too slow. To deal with matters, Gasgoo reports that Ssangyong is letting go of 2,700 workers, representing 37% of its workforce.

Yu-Il said the struggling Korean firm will run out of money at the end of June, and will need 100 billion won ($75 million US) if the company is broken up -- which makes us wonder how much the company needs to stay in business and question who would supply such funds in the face of a 50% drop in sales. With majority stakeholder SAIC refusing to get involved, Ssangyong's future is looking decidedly bleak.

[Source: Gasgoo]

Ssangyong preparing to lay off nearly 40% of workforce by end of June? originally appeared on Autoblog on Fri, 24 Apr 2009 13:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>asiaearningsfinancialskoreaKoreanlayoffssaicssangyongFri, 24 Apr 2009 13:59:00 EST<![CDATA[Shanghai 2009: Roewe N1 continues to advance concept of credible Chinese design]]>http://www.autoblog.com/2009/04/20/shanghai-2009-roewe-n1-continues-to-advance-the-concept-of-cred/http://www.autoblog.com/2009/04/20/shanghai-2009-roewe-n1-continues-to-advance-the-concept-of-cred/http://www.autoblog.com/2009/04/20/shanghai-2009-roewe-n1-continues-to-advance-the-concept-of-cred/#commentsFiled under: , , , ,


Roewe N1 Concept - Click above for high-res gallery

Chinese automakers have been on the receiving end of barbs for some time now, particularly when it comes to styling. In terms of both originality and proportion, most Sino automakers have struggled to find both balance and identity, but among them, SAIC Roewe has been able to build on its Rover roots and churn out some rather attractive designs. Case in point: The N1. Now showing in Shanghai for the first time, the N1 sedan is quite well resolved from most angles, and its design is widely expected to make it into production unscathed. That the car's styling jibes with Western sensibilities is important, because the company plans to roll a production N1 out not just to domestic audiences next year, but likely to European audiences a short time later.

Unlike some previous Roewe offerings, the N1 sits on a new chassis, but it will reportedly still rely on updated versions of the British automaker's K-series four-cylinder powerplants.

Inside, the N1 is rather more ambitious, featuring a touch-screen interface with full-on internet connectivity, a "3D" digital gauge cluster, and a navigation system based on open-source coding. The car's high-tech dashboard gubbins are likely to remain a showcar-only detail for the next few years, however.


Gallery: shanghai 2009:Roewe N1 concept


Photos copyright (C)2009 IceBin/ Weblogs, Inc.
[Source: Autoblog Simplified Chinese]

Shanghai 2009: Roewe N1 continues to advance concept of credible Chinese design originally appeared on Autoblog on Mon, 20 Apr 2009 11:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AutoShanghaiopen sourceOpenSourceRoeweSAICShanghaiShanghai 2009Shanghai Auto ShowShanghai Motor ShowShanghai2009ShanghaiAutoShowShanghaiMotorShowMon, 20 Apr 2009 11:59:00 EST<![CDATA[REPORT: GM China spokesman denies pondering selling Buick to SAIC]]>http://www.autoblog.com/2009/04/10/report-gm-china-spokesman-denies-pondering-selling-buick-to-sai/http://www.autoblog.com/2009/04/10/report-gm-china-spokesman-denies-pondering-selling-buick-to-sai/http://www.autoblog.com/2009/04/10/report-gm-china-spokesman-denies-pondering-selling-buick-to-sai/#commentsFiled under: , ,

Chinese-spec Buick Regal - Click above for high-res image gallery

Yesterday's rumors regarding a possible Buick sale to China's Shanghai Automotive Industry Corp. (SAIC) might have been a wee bit premature according to an unnamed executive at GM China. This news should be anything but surprising - we didn't put much stock in the rumor when we first reported it - since the success of the Buick brand is one of GM's few current bright spots.

In America, General Motors has singled out Chevrolet, Cadillac, GMC and Buick as the core brands that it will concentrate on, which gives further reason to believe that the Buick nameplate will be staying right where it is in the General Motors portfolio. Hummer, Saab and Saturn, on the other hand, remain very much for sale.


Gallery: 2009 Chinese-spec Buick Regal


[Source: Gasgoo]

REPORT: GM China spokesman denies pondering selling Buick to SAIC originally appeared on Autoblog on Fri, 10 Apr 2009 15:26:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>buickbuick chinabuick saicBuickChinaBuickSaicgmgm chinaGmChinasaicFri, 10 Apr 2009 15:26:00 EST<![CDATA[REPORT: Ssangyong restarts production]]>http://www.autoblog.com/2009/02/05/report-ssangyong-restarts-production/http://www.autoblog.com/2009/02/05/report-ssangyong-restarts-production/http://www.autoblog.com/2009/02/05/report-ssangyong-restarts-production/#commentsFiled under: , , ,



Korean automaker Ssangyong has reportedly restarted five of its production lines at its plants in Pyeongtaek and Changwon. Earlier this month, Ssangyong was forced to enter receivership as a last ditch effort to stave off bankruptcy after failing to negotiate a deal with Shanghai Automotive Industry Corp., the Korean automaker's Chinese owners, and Korea Development Bank, its largest creditor.

Prior to those negotiations, Ssangyong was hemorrhaging money due to a 50% drop in sales, which ultimately led to the inability to make payroll and fulfill supplier contracts. At this point, Ssangyong must wait until February 9 to find out if the local court of Seoul will allow the automaker to enter bankruptcy protection proceedings. Sounds like the road will remain bumpy for Korea's fifth-largest automaker for the foreseeable future.

[Source: Gasgoo | Image: AFP/Getty]

REPORT: Ssangyong restarts production originally appeared on Autoblog on Thu, 05 Feb 2009 17:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>china autoChinaAutochinese autoChineseAutokorean autokorean carKoreanAutoKoreanCarSAICssangyongssangyong bankruptcySsangyongBankruptcyThu, 05 Feb 2009 17:40:00 EST<![CDATA[SAIC to launch mild hybrid in 2010?]]>http://www.autoblog.com/2009/01/24/saic-to-launch-mild-hybrid-in-2010/http://www.autoblog.com/2009/01/24/saic-to-launch-mild-hybrid-in-2010/http://www.autoblog.com/2009/01/24/saic-to-launch-mild-hybrid-in-2010/#commentsFiled under: , ,



After investing a few hundred million dollars into alternative powertrain research, China's Shanghai Automotive Industry Corporation (SAIC) says that it's finally ready to produce its first hybrid car. Nothing too fancy, just a mild hybrid with an electric motor that isn't capable of powering the vehicle without the assistance of the gas-powered engine. The battery pack, at least, is a suitably high-tech lithium ion unit that will be supplied by Johnson Controls, which has a joint venture with battery-maker SAFT to produce automotive packs. SAIC expects a fuel savings of about 20%. The platform for SAIC's first hybrid will be the old Rover 75, which was renamed the Roewe 750 after being bought out by its Chinese owners. Assuming all goes to plan with this first hybrid step, SAIC plans to branch further into the alternative propulsion world with an all-electric model.

[Source: Automotive News - subs. req'd]

SAIC to launch mild hybrid in 2010? originally appeared on Autoblog on Sat, 24 Jan 2009 08:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinese hybridChineseHybridhybrid roewehybrid roverHybridRoeweHybridRoversaicsaic hybridSaicHybridshanghai automotive industry corpshanghai automotive industry corporationShanghaiAutomotiveIndustryCorpShanghaiAutomotiveIndustryCorporationSat, 24 Jan 2009 08:01:00 EST<![CDATA[Ssangyong enters receivership]]>http://www.autoblog.com/2009/01/09/ssangyong-enters-receivership/http://www.autoblog.com/2009/01/09/ssangyong-enters-receivership/http://www.autoblog.com/2009/01/09/ssangyong-enters-receivership/#commentsFiled under: , ,

Could it be too late for Ssangyong? Shanghai Automotive Industry Corp. (SAIC) appears to have given up on Ssangyong Motor Co., allowing the company to slip into receivership. SAIC holds a 51% stake in Ssangyong, but gave up management rights in a bid to avoid liquidation and allow Ssangyong some time to get back in the black. The Korean automaker's Chief Executive Zhang Hai Tao and President Choi Hyung-tak both stepped down after the filing.

As recently as a couple of days ago, SAIC said they would help prop up Ssangyong, but that apparently has changed. As vehicle sales have fallen a whopping 50%, money was clearly tight. With the global economic crisis, credit was evidently unavailable to pay workers and new negotiations with the unions weren't going anywhere fast. This receivership agreement protects Ssangyong from creditors and keeps it from entering bankruptcy, allowing it some time to get back on its feet. For its part, SAIC said that it "will work with all parties so that Ssangyong can achieve a plan to normalize its operations." Thanks for the tip, Ken!

[Source: Market Watch]

Ssangyong enters receivership originally appeared on Autoblog on Fri, 09 Jan 2009 17:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>saicshanghai automotiveshanghai automotive industry corpshanghai automotive industry corporationShanghaiAutomotiveShanghaiAutomotiveIndustryCorpShanghaiAutomotiveIndustryCorporationssangyongSsangyong Motor Cossangyong motorsSsangyongMotorCoSsangyongMotorsFri, 09 Jan 2009 17:29:00 EST<![CDATA[Shanghai GM stumbles in '08]]>http://www.autoblog.com/2009/01/06/shanghai-gm-stumbles-in-08/http://www.autoblog.com/2009/01/06/shanghai-gm-stumbles-in-08/http://www.autoblog.com/2009/01/06/shanghai-gm-stumbles-in-08/#commentsFiled under: , ,



One of the refrains we've all heard in recent years is how strong Buick is for General Motors in China, where it's not cursed with the stigma of being a grandparent's brand in the States. While most of yesterday's attention was rightly focused on the industry-wide year-end U.S. sales bloodbath, Shanghai Daily reports that 2008 was a bummer for GM's joint venture with SAIC in China.

Shanghai GM ended up down 7% versus 2007, with analysts saying that its new cars, like the freshly-updated Buick Excelle, didn't deliver the goods in terms of styling, price, or fuel economy. Hence, buyers reportedly turned to the VW Jetta and Toyota Corolla instead. Shanghai Daily points out that Chevrolet, Cadillac, and Saab all showed growth in China last year, so the overall Shanghai GM decline essentially gets laid at the feet of Buick. Now, it'll be interesting to see how 2009 plays out. GM is hoping that the Chevy Cruze can help get things back on track in the People's Republic (and everyplace else, for that matter) when it arrives sometime in Q2, joining other key Shanghai GM newcomers like the Buick Regal.

Shanghai GM's disappointing 2008 performance was part of a broader growth slowdown for the General in China. When factoring in the rest of its joint ventures, GM's China sales were actually up 6% overall. But that's a significant dropoff from the double-digit sales gains exhibited in preceding years -- 19% in '07, and at least 27% in the each of the four years prior to that, according to Bloomberg. With so many consecutive years of explosive sales growth, things were probably bound to level off as car shoppers transformed into car owners. Whether GM's influx of new models planned for this year and beyond stokes the sales fires in China again is a story that we'll follow throughout '09.

Gallery: 2009 Buick Excelle


Gallery: 2009 Chinese-spec Buick Regal


[Sources: Shanghai Daily, Bloomberg]

Shanghai GM stumbles in '08 originally appeared on Autoblog on Tue, 06 Jan 2009 17:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2008buickbuick excelleBuickExcellegmsaicshanghai gmshanghai gm salesShanghaiGmShanghaiGmSalesTue, 06 Jan 2009 17:01:00 EST<![CDATA[Ssangyong gets bailout from SAIC]]>http://www.autoblog.com/2009/01/06/ssangyong-gets-bailout-from-saic/http://www.autoblog.com/2009/01/06/ssangyong-gets-bailout-from-saic/http://www.autoblog.com/2009/01/06/ssangyong-gets-bailout-from-saic/#commentsFiled under: , ,

It may not be the entire 320 billion won that its largest creditor was looking for, but Shanghai Automotive Industries Corp's recent announcement that it would prop Ssangyong up with an investment of 25.9 billion won ($19.89 million) should do the trick. SAIC says the money is to facilitate the development of new products, but we'd guess that paying the Korean automaker's employees for their services will probably take top priority. According to the unionized workers for Ssangyong, which is Korea's fifth-largest automaker, a total of 29 billion won is owed to employees.

The union and SAIC appear to be posturing back and forth on how to proceed from here. Ssangyong's Chinese owners want to cut a total of 2,000 jobs from the Korean automaker before investing any further money and the union is expected to vote on this new plan, which is widely expected to fail. After reporting a staggering sales drop of over 50% last year, though, something's got to give.

[Source: Gasgoo]

Ssangyong gets bailout from SAIC originally appeared on Autoblog on Tue, 06 Jan 2009 08:57:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>saicshanghai automotiveshanghai automotive industry corpshanghai automotive industry corporationShanghaiAutomotiveShanghaiAutomotiveIndustryCorpShanghaiAutomotiveIndustryCorporationssangyongTue, 06 Jan 2009 08:57:00 EST<![CDATA[Ssangyong faces liquidation if SAIC doesn't prop up ailing automaker]]>http://www.autoblog.com/2008/12/31/ssangyong-faces-liquidation-if-saic-doesnt-prop-up-ailing-autom/http://www.autoblog.com/2008/12/31/ssangyong-faces-liquidation-if-saic-doesnt-prop-up-ailing-autom/http://www.autoblog.com/2008/12/31/ssangyong-faces-liquidation-if-saic-doesnt-prop-up-ailing-autom/#commentsFiled under: ,

Things are looking dire at Korea's Ssangyong Motors, which, as you might recall, was unable to make payroll last week due to a total lack of cash on hand. The sordid tale continues this week as Ssangyong's largest creditor, Korea Development Bank (KDB), suggests that it will simply liquidate the automaker if Shanghai Automotive Industries China, otherwise known as SAIC, isn't willing to prop up its ailing subsidiary. As of last week, SAIC had said that it didn't intend on bailing out Ssangyong.

KDB is looking for 120 million won in cash from SAIC, along with another 200 million won in guarantees for loans. Those two bits of financial aid total about $249 million in U.S. funds. If SAIC refuses, KDB says it will not consider making any more loans to Ssangyong. What that means for displaced workers at the Korean automaker we don't know, but it doesn't sound good.

[Source: Gasgoo.com]

Ssangyong faces liquidation if SAIC doesn't prop up ailing automaker originally appeared on Autoblog on Wed, 31 Dec 2008 16:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>saicssangyongssangyong motorsSsangyongMotorsWed, 31 Dec 2008 16:59:00 EST<![CDATA[Ssangyong says it's out of money, can't pay workers]]>http://www.autoblog.com/2008/12/22/ssangyong-says-its-out-of-money-cant-pay-workers/http://www.autoblog.com/2008/12/22/ssangyong-says-its-out-of-money-cant-pay-workers/http://www.autoblog.com/2008/12/22/ssangyong-says-its-out-of-money-cant-pay-workers/#commentsFiled under: , ,



Ssangyong, which recently attended the Paris Motor Show and showed off the C200 4-wheel-drive, is officially out of money. The company is more than $77 million (US) in debt, and no longer has the funds to pay its employees' salaries. Ssangyong is owned by Shanghai Automotive Industries China, otherwise known as SAIC. In what could provide a cautionary tale to Volvo workers assuming Ford actually does a deal with SAIC for the Swedish brand, when Ssangyong asked SAIC for the money to pay employees, SAIC refused because Ssangyong's internal employee's union had earlier called for Chinese executives to resign. In the meantime, Ssangyong has merged operations and shut down all of its plants and the employees have planned a protest to make their feelings known.

[Source: Chosun]

Ssangyong says it's out of money, can't pay workers originally appeared on Autoblog on Mon, 22 Dec 2008 09:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chinaclosuresearningsfinancialskoreamanufacturingplantssaicssangyongMon, 22 Dec 2008 09:58:00 EST<![CDATA[Geely reportedly interested in Volvo Cars]]>http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/http://www.autoblog.com/2008/12/18/geely-reportedly-interested-in-volvo-cars/#commentsFiled under: , ,

We already know that Ford has placed Volvo on the auction block and is actively shopping its Swedish brand to at least one Chinese automaker. New rumors indicate that there may be more players in China with more than a passing interest in taking the brand off the Blue Oval's hands. If SAIC doesn't bite at Ford's $6 billion asking price, Geely has emerged as a possible bidder and officials from the Chinese automaker have reportedly made the trip all the way to Volvo's headquarters in Gothenburg, Sweden, to discuss a possible sale with Ford.

So, what potential roadblocks stand in the way of a Chinese automaker snatching Volvo from the throes of bankruptcy? According to Autocar, one sticking point is that Ford does not want Volvo platforms being used by other automakers. A good deal of Ford products share their underpinnings with Volvo sedans and Ford is concerned that its intellectual property could end up in the wrong hands.

[Source: Autocar]

Geely reportedly interested in Volvo Cars originally appeared on Autoblog on Thu, 18 Dec 2008 09:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>geelygeely volvoGeelyVolvosaicsaic volvoSaicVolvovolvovolvo saicvolvo salevolvo sale chinavolvo sale chineseVolvoSaicVolvoSaleVolvoSaleChinaVolvoSaleChineseThu, 18 Dec 2008 09:01:00 EST<![CDATA[Ford in further talks with Shanghai Auto to sell Volvo]]>http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/http://www.autoblog.com/2008/12/08/ford-in-further-talks-with-shanghai-auto-to-sell-volvo/#commentsFiled under: , ,

The UK's Sunday Mail is reporting that Ford has returned to Shanghai Automotive Industry Corp. (SAIC) to make another pitch to sell Volvo. As we told you back in June, SAIC is one of the leading contenders to snap up Volvo. Although Ford had long maintained the Swedish automaker was not for sale, it recently admitted it was entertaining offers for the firm. Having paid $6.4 billion for Volvo back in 1999, it is believed that Ford is now seeking around $6 billion for the company. That's a lot of renminbi.

Like the rest of the industry, Volvo is struggling in today's market with third-quarter sales down 24 percent. It has cut thousands of jobs and has even sought assistance from the Swedish government. Besides SAIC, Hyundai Motor Co. is still believed to be in the hunt for Volvo, as well as the Swedish government itself, although that seems unlikely.

If SAIC does end up in Chinese hands, it won't be their first experience building Volvos. The Chinese-market-only, long-wheelbase S80L is already being built at the CFMA Chongqing plant in China, but that is a unique partnership for now and it is unclear how the sale of Volvo to SAIC would affect that arrangement.

[Source: The Sunday Mail]

Ford in further talks with Shanghai Auto to sell Volvo originally appeared on Autoblog on Mon, 08 Dec 2008 09:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ford volvoFordVolvosaicsaic motorsaic volvoSaicMotorSaicVolvoShanghai Automotive Industry CorporationShanghaiAutomotiveIndustryCorporationvolvo for salevolvo fordVolvoFordVolvoForSaleMon, 08 Dec 2008 09:59:00 EST<![CDATA[Ford wants $6 billion for Volvo]]>http://www.autoblog.com/2008/12/04/ford-wants-6-billion-for-volvo/http://www.autoblog.com/2008/12/04/ford-wants-6-billion-for-volvo/http://www.autoblog.com/2008/12/04/ford-wants-6-billion-for-volvo/#commentsFiled under: , ,

Ford bought Volvo for $6.4 billion back in 1999. Now, a decade later, unconfirmed reports say the automaker is asking nearly the same amount -- $6 billion -- for the Swedish brand.

Ford may sell Volvo to demonstrate active steps to cut costs (a critical move as Mulally is in Washington asking Congress for financial assistance as you read this). Although it's a buyer's market, Volvo isn't exactly the hottest catch. Like everyone else, the automaker is struggling in today's market as reported sales in the third-quarter were down 24%. Volvo has cut thousands of jobs, and has even been in recent talks with the Swedish government about financial support. Potential buyers of Volvo include SAIC Motor Corp., China's largest automaker, and Hyundai Motor Co., from South Korea. Another option would be for the Swedish government to become the temporary owner until a suitable industrial buyer is found, but we think that has the same chance as the Detroit 3 being federalized.

[Source: Bloomberg]

Ford wants $6 billion for Volvo originally appeared on Autoblog on Thu, 04 Dec 2008 13:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Ford selling volvoFord volvo saleFordSellingVolvoFordVolvoSaleHyundaiSAICvolvo saleVolvoSaleThu, 04 Dec 2008 13:01:00 EST<![CDATA[Roewe 550, 750 arrive in Chile as MGs]]>http://www.autoblog.com/2008/10/26/roewe-550-750-arrive-in-chile-as-mgs/http://www.autoblog.com/2008/10/26/roewe-550-750-arrive-in-chile-as-mgs/http://www.autoblog.com/2008/10/26/roewe-550-750-arrive-in-chile-as-mgs/#commentsFiled under: , ,



Remember the Roewe 550? Pretty nice-looking ride, especially for a Chinese car, considering some of the freakishly awful stuff that comes out of the country. SAIC apparently realizes that in terms of name recognition, MG > Roewe. Case in point: the introduction of the 550 and 750 sedans in Chile, where both cars are now being sold under the MG moniker by importer SK Bergé. The two four-doors will reportedly be joined by the TF roadster in November, but despite the traditionally British nameplate adorning their respective bonnets, all three are made in China. You know, like everything else. You can see a gallery of the brand's launch event in Santiago here. Thanks for the tip, Potts.

[Sources: Autoblog Spanish, Austin Rover Online]

Roewe 550, 750 arrive in Chile as MGs originally appeared on Autoblog on Sun, 26 Oct 2008 14:07:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>mgmg 550mg 750mg tfMg550Mg750MgTfroewe 550roewe 750Roewe550Roewe750saicsk bergeSkBergeSun, 26 Oct 2008 14:07:00 EST<![CDATA[Chinese automaker denies rumor about interest in Volvo]]>http://www.autoblog.com/2008/06/27/chinese-automaker-denies-rumor-about-interest-in-volvo/http://www.autoblog.com/2008/06/27/chinese-automaker-denies-rumor-about-interest-in-volvo/http://www.autoblog.com/2008/06/27/chinese-automaker-denies-rumor-about-interest-in-volvo/#commentsFiled under: ,



An eternally unanswerable question seems to be whether or not Ford is actively shopping around Volvo for a buyer. Just this week we reported that Chinese automaker SAIC and some Russian investors had expressed interest in purchasing the Swedish carmaker from Ford, but today we learn from a source within SAIC that the company is doing nothing of the sort. The unidentified source said that, as far as he/she knew, the two companies were not in contact about a possible purchase at all. Volvo's staying quiet and licking its wounds after announcing 2,000 layoffs this week, while Ford is singing the same old song with a catchy chorus that insists Volvo is not for sale. Well, the rumor that some Russians are interested in Volvo hasn't been refuted yet, so until someone named Boris says otherwise, let's considerable Volvo on the market despite Ford's protest.

[Source: Automotive News, sub. req'd]

Chinese automaker denies rumor about interest in Volvo originally appeared on Autoblog on Fri, 27 Jun 2008 19:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinafordford volvoFordVolvoSAICSAIC volvoSaicVolvovolvoFri, 27 Jun 2008 19:31:00 EST<![CDATA[Micro to become macro? GM looking at competing with the Nano]]>http://www.autoblog.com/2008/01/26/micro-to-become-macro-gm-looking-at-competing-with-the-nano/http://www.autoblog.com/2008/01/26/micro-to-become-macro-gm-looking-at-competing-with-the-nano/http://www.autoblog.com/2008/01/26/micro-to-become-macro-gm-looking-at-competing-with-the-nano/#commentsFiled under: , ,


Click image for a gallery of the GM China Chevrolet Spark

If everyone else is going to build cars like Tata's headline-grabbing Nano, GM's going to pile on, too. The Lutz cites GM's part-ownership stake in Wuling Motors, a Chinese manufacturer of sub-$3,000 utility vehicles as a possible source of a GM Nano competitor. Lutz went on to say that one way to make an inexpensive car for the developing world is to repurpose a legacy platform that has become obsolete. The tooling and design will have long been paid off, and there'll be plenty of experience from the manufacturing side, too. This is essentially what GM China is already doing with the Daewoo Matiz/Chevrolet Spark. It might smack of dumping an old product that isn't safe or clean enough for mature markets, but is "good enough" in other parts of the world. That said, it could also be a way to maximize the life of an investment while also providing developing markets with a better product than they'd have otherwise. Lutz also called into question whether the average Nano would sell for its rock-bottom $2,500 price of entry, anyway. Adding extra amenities will likely push the price of most Nanos higher, says Bob.

[Source: Auto News - sub req]

Gallery: GM China Chevrolet Spark


Micro to become macro? GM looking at competing with the Nano originally appeared on Autoblog on Sat, 26 Jan 2008 14:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bob lutzBobLutzchinageneral motorsGeneralMotorsgmlutznanosaictatawulingSat, 26 Jan 2008 14:02:00 EST