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USD46M SAIC AND GM "SHAKE HANDS" FOR THE EIGHTH TIME
Info-Prod Research (Middle East), December, 2007
According to fdi.gov.cn: Given good cooperation on vehicle manufacturing, sales and R&D, GM and SAIC Group will further expand the cooperation scope. Recently, GM, SAIC Group and Shanghai GM officially announced to jointly establish Shanghai OnStar Telematics Co. in Shanghai. This is the eighth JV between GM and SAIC and also the first OnStar information service institution outside of North American market.
Based on the agreement, OnStar, wholly subsidiary of GM, and ANJI Automotive Services, wholly subsidiary of SAIC Group respectively hold 40% shares of this new company and Shanghai GM will hold the rest 20%. The total investment of this new company is USD46m. It was known that Shanghai OnStar Telematics Co. will provide wide automotive safety information service,...
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