China: SAIC aims to raise US$1.5bn – report

According to a report in the Chinese financial newspaper 21st Century Business Herald, as cited by Bloomberg, SAIC Motor plans to raise almost Yuan 10bn (US$1.57bn) in a sale of new shares. According to the report, SAIC will use the funds to develop its own brands and alternative-energy vehicles. A spokeswoman Subscribe to Automotive World … Continued

• By Webmaster
• June 23, 2010