Both Shanghai GM and Shanghai Volkswagen will launch new energy vehicles under joint brands

---

Both Shanghai GM and Shanghai Volkswagen, SAIC’s joint ventures with GM and Volkswagen respectively, have plans to develop joint brands for new energy vehicles, revealed Chen Hong, president of SAIC Motor.

SAIC aims to sell more than 6 million vehicles by 2015, with around 50% of the total sales are expected to be vehicles under self-owned brands or other locally developed brands, chiefly Roewe, MG, Maxxus, but also other brands the company owns. The market shares of its new energy vehicles are expected to reach 20% in China alone, overseas sales are expected to reach 800,000 units. Its after-market service business revenue is expected to double to 60 billion yuan by 2015.

SAIC Passenger Cars, a subsidiary of SAIC Group, unveiled its first medium and high-end Roewe W5 SUV and new-generation MG5 concept at the Shanghai Auto Show. Chen Zhixin, executive vice president of SAIC, revealed that MG5 would be put into production next June, while the Roewe 350 all-electric vehicle and Roewe 550 plug-in hybrid will be launched next October and December respectively. Chen Zhixin also said that SAIC Passenger Cars aims to sell 700,000 vehicles in 2011-2015. Its Roewe and MG brands both rival against foreign brands.

SAIC Motor is not optimistic about the auto market this year due to the negative factors like CPI rise, fuel price hike and the auto consumption restrictive measures taken by Beijing.

The sales growth of the whole auto market is estimated to be around 10% this year, said Chen Hong.