China: SAIC to invest Yuan 22bn in self-owned brand

Shanghai Automotive Industry Corporation (SAIC) plans to invest Yuan 22bn (US$3.44bn) to develop a new self-owned brand in the next four years, Beijing Times reports, citing Chen Zhixin, vice president of the group. The bulk of this investment will go towards construction of plants and procurement of necessary equipment. Out of Subscribe to Automotive World … Continued

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• August 26, 2011