SAIC Motor renews joint venture with GM

SAIC Motor Corporation of China and General Motors of the United States have signed an agreement to renew their joint partnership for an additional 20 years until 2047, building on the success of nearly 30 years of collaboration. The partnership will involve increased coordination in research and development, technology, and supply chain management, with a focus on transitioning to smart and electric vehicles and fostering local innovation. The joint venture is expected to launch 30 new energy vehicle models by 2030, and will begin exporting the luxury Buick Electra E7 model to international markets in October, while also enhancing its investments in the global new energy vehicle market. This partnership stands as one of China's most significant achievements in advancing openness and modernization within the automotive industry.

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