New Ambition of SAIC Motor

www.chinabuses.org: News from Shanghai Automotive Industry Corporation Group (SAIC for short as below) says that it plans to invest 6 billion yuan ($879 million) in researching and making new energy vehicles in this year. The whole investment will last two or three years.

SAIC reveals that the investment includes three parts. The first part is 2 billion yuan to support the research and development of new energy vehicles. The second part is 2 billion yuan for producing parts for new energy autos. The third part is 2 billion yuan for the building of auto-making factories.

According to the plan of SAIC, its new energy vehicles can save more than 50 percent fuel and the new pure electric vehicles will be rolled out in 2012.

 

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