Shanghai Automotive Industry Corp

GM Signs Pact for China Joint Venture: The Detroit auto maker said it signed a "base agreement" for a car-building venture that could exceed $1 billion in total investment. The General Motors Corp. announcement marked the first official confirmation that it had beat archrival Ford Motor Co. for the hotly contested deal with China's state-controlled Shanghai Automotive Industry Corp. Word of GM's victory had begun circulating last week.

Shanghai Automotive Industry Corp., the local partner of global giants General Motors Corp. and Volkswagen, officially launched its first branded car, the Roewe, on Tuesday. The high-end sedan was built by state-owned Shanghai Automotive using technology from Rover. The Chinese company owns the technology rights for two Rover models, the 25 and the 75, bought last year from Britain's MG Rover Group Ltd. The Roewe 750 -- Shanghai Automotive lost out to Ford Motor Co.

China Reportedly Picks GM for Car Venture: Chinese automobile industry officials will pick General Motors Corp. over Ford Motor Co. as their partner in a venture to build sedans in China, the Asian Wall Street Journal reported, citing an unnamed Chinese official. The project, a joint venture with Shanghai Automotive Industry Corp., which could be worth up to $1 billion, was China's most-prized joint venture. Executives at GM and Ford did not comment. U.S.

Volkswagen will start making hybrid cars by 2008 with its main Chinese partner and may kick off large-scale production of the energy-efficient vehicles by 2010, the Chinese company said. Europe's biggest automaker is teaming with Shanghai Automotive in a project that could spur China's hunt for alternative energy sources and curb pollution as demand for cars soars in the world's No. 7 economy.

General Motors Corp. and a Chinese corporation are expected to sign a $1-billion contract setting up China's largest mid-size automobile production venture, state-run media reported. The State Council, China's Cabinet, approved the planned joint venture last month, and it now awaits approval from the Foreign Trade Ministry, the China Daily Business Weekly said. The venture between Detroit-based GM, the world's largest auto maker, and Shanghai Automotive Industry Corp.

Shanghai Automotive Industry Corp., the local partner of global giants General Motors Corp. and Volkswagen, officially launched its first branded car, the Roewe, on Tuesday. The high-end sedan was built by state-owned Shanghai Automotive using technology from Rover. The Chinese company owns the technology rights for two Rover models, the 25 and the 75, bought last year from Britain's MG Rover Group Ltd. The Roewe 750 -- Shanghai Automotive lost out to Ford Motor Co.

While the presidents of China and the United States met in New York to repair rocky relations between the two nations, General Motors Corp. and a Shanghai company prepared to seal a mammoth deal that shows that U.S.-Chinese commercial ties, at least, are right on track. Industry sources confirmed that the American auto giant has won a $1-billion-plus agreement to build mid-size cars in China in what would be one of the highest-profile U.S. investments here ever.

Launching the highest-level official U.S. visit to China since the bloody Tiananmen Square crackdown of 1989, Vice President Al Gore arrived here Monday, and a grateful China thanked the United States by signing two major deals with American companies. Gore and Chinese Premier Li Peng witnessed today's signings of a $685-million order for five Boeing Co. 777-200 passenger jets and an agreement with General Motors to create a $1.3-billion joint venture to produce 100,000 Buicks a year in China.

The New Century has arrived, and it is made in China. At the new General Motors plant here, the first Chinese-made Buick rolled off the assembly line recently, heralded by trumpets and 1,700 cheering auto workers. Forty dignitaries--from the mayor of Shanghai to the U.S. ambassador to China--autographed the gleaming white hood with a thick black pen. John F. Smith Jr., GM's chairman and chief executive, signed his name with a flourish and added simply: "#1."

Volkswagen will start making hybrid cars by 2008 with its main Chinese partner and may kick off large-scale production of the energy-efficient vehicles by 2010, the Chinese company said. Europe's biggest automaker is teaming with Shanghai Automotive in a project that could spur China's hunt for alternative energy sources and curb pollution as demand for cars soars in the world's No. 7 economy.

The New Century has arrived, and it is made in China. At the new General Motors plant here, the first Chinese-made Buick rolled off the assembly line recently, heralded by trumpets and 1,700 cheering auto workers. Forty dignitaries--from the mayor of Shanghai to the U.S. ambassador to China--autographed the gleaming white hood with a thick black pen. John F. Smith Jr., GM's chairman and chief executive, signed his name with a flourish and added simply: "#1."

Launching the highest-level official U.S. visit to China since the bloody Tiananmen Square crackdown of 1989, Vice President Al Gore arrived here Monday, and a grateful China thanked the United States by signing two major deals with American companies. Gore and Chinese Premier Li Peng witnessed today's signings of a $685-million order for five Boeing Co. 777-200 passenger jets and an agreement with General Motors to create a $1.3-billion joint venture to produce 100,000 Buicks a year in China.

General Motors Corp. and a Chinese corporation are expected to sign a $1-billion contract setting up China's largest mid-size automobile production venture, state-run media reported. The State Council, China's Cabinet, approved the planned joint venture last month, and it now awaits approval from the Foreign Trade Ministry, the China Daily Business Weekly said. The venture between Detroit-based GM, the world's largest auto maker, and Shanghai Automotive Industry Corp.

GM Signs Pact for China Joint Venture: The Detroit auto maker said it signed a "base agreement" for a car-building venture that could exceed $1 billion in total investment. The General Motors Corp. announcement marked the first official confirmation that it had beat archrival Ford Motor Co. for the hotly contested deal with China's state-controlled Shanghai Automotive Industry Corp. Word of GM's victory had begun circulating last week.

While the presidents of China and the United States met in New York to repair rocky relations between the two nations, General Motors Corp. and a Shanghai company prepared to seal a mammoth deal that shows that U.S.-Chinese commercial ties, at least, are right on track. Industry sources confirmed that the American auto giant has won a $1-billion-plus agreement to build mid-size cars in China in what would be one of the highest-profile U.S. investments here ever.

China Reportedly Picks GM for Car Venture: Chinese automobile industry officials will pick General Motors Corp. over Ford Motor Co. as their partner in a venture to build sedans in China, the Asian Wall Street Journal reported, citing an unnamed Chinese official. The project, a joint venture with Shanghai Automotive Industry Corp., which could be worth up to $1 billion, was China's most-prized joint venture. Executives at GM and Ford did not comment. U.S.

MG Rover Group arrived at the end of the road as administrators for the stricken company -- Britain's last major car manufacturer -- said they intended to break it up, laying off 5,000 workers, after Shanghai Automotive Industry Corp. made clear that it was not interested in a joint venture.

General Motors Corp. may start making a family car in China as part of its latest venture to tap growing demand. GM, Shanghai Automotive Industry Corp. and Wuling formed a $99.6-million venture, based in the southwest Chinese province of Guangxi, to make small cars. Wuling sales officials said General Motors plans to roll out the family car in October and start selling it across China in February. The car will be fitted with a 1.4-liter or 1.