SAIC, China's largest home-market automaker, has just announced via a filing with the Shanghai Stock Exchange that it's entering into a joint venture to develop hybrid and electric vehicles. The project calls for a $300 million investment up-front, proving once again that green tech can be expensive. Technologies like electric vehicle transmissions and drivetrains will go through the research and development stages at the new company before going into production. SAIC is already partnered up wit
As his company launched two-mode hybrid production in Baltimore today, GM's Chairman and CEO Rick Wagoner was in Shanghai. Wagoner was in China to announce a new US$250 million research hub and energy center, called the GM Center for Advanced Science and Research.