Nobody knows for sure what is happening between NAC and SAIC, is it a merger, is it a joint venture, is it the Chinese equivalent of the bankrupt British Leyland motoring corp of days gone by?
A few days ago we heard that NAC boss Yu Jian Wei assembled 300 NAC workers in a meeting room and explained to them the SAIC NAC situation and gave them the juicy (or not so juicy) details. It seems that in the three hour long meeting it was revealed that SAIC and NAC have agreed to pool their resources (all of them) together, these resources will be jointly managed. Were not entirely sure if this snippet of news is true or not, but we’ve heard that SAIC have gained a controlling share of NAC. Part of the deal is that NAC stays in Nanjing city and continues to pay taxes to the city government, and also the GDP will be added to Nanjings, not Shanghai city’s.
China Car Times asks, what is SAICs goal, is it to gain control of MG so they can further their Roewe brand, or is it to get into NAC’s IVECO panties so it can get a slice of the Nanjing-IVECO joint venture which more than surely makes a huge wad of cash selling vehicles to the Peoples Liberation Army?
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