SAIC Motor Raises 10 Billion to Nanjing Base

"Shangnan Cooperation Third Anniversary Celebration" was held in Nanjing a few days ago. SAIC announced that Nanjing Automobile Group has successfully turned losses into profits this year. At the same time, as the basis for advancing future cooperation, SAIC and the Nanjing government formally signed the "Memorandum of Cooperation for the Development of SAIC Nanjing Base" ("Memorandum"), and will invest 10 billion yuan in the development plan for Nanjing Base in the next five years.

"Practice has proven that the South-South cooperation has reached its original goal of integration," said Hu Maoyuan, chairman of SAIC. From the "Visible Visibility," to the "First Achievement," to the "Zhiyuan Bieda," the Shangnan Cooperation has been completed. Fully integrated, phased goals. According to the data provided by SAIC, in 2010, the production and sales of complete vehicles of the Nanjing Automobile Group was nearly 300,000, which was three times that before the cooperation with SAIC.

According to the "Memorandum" signed between SAIC and the Nanjing Municipal Government, SAIC will build Nanjing Base in accordance with the principle of "Four Ones" during the "Twelfth Five-Year Plan" period, that is, it will invest 10 billion more to form a production capacity of 100,000 units in Nanjing Base. With an annual sales income of 100 billion yuan, it will drive an industrial base for parts and auto parts trade. Nanjing will be built as one of the country's most important bases in addition to the Shanghai headquarters.