General Motors Chairman and CEO Dan Akerson and his counterpart at SAIC Motor Corp., Hu Maoyuan, signed an agreement for the joint development of a new electric vehicle in China.
The Pan Asia Technical Automotive Center, which is jointly owned by the two companies, will undertake the development of the new architecture, with GM and SAIC teams working together.
“The co-development of this new electric vehicle architecture demonstrates the broad range of benefits made possible by the strong partnership between SAIC and GM” commented Tim Lee, president of GM International Operations.
“For almost 15 years our two companies have forged an unprecedented level of cooperation. This is another demonstration of our companies’ commitment to work collaboratively,” he added.
The products of this joint venture, further details of which will be announced at a later date, will be sold in China under both the Shanghai GM and SAIC brands. They will also used by each company separately for developing their own models in other markets.
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