General Motors Co. revealed in a filing on Wednesday that it will take over 45 billion in charges stemming from the restructuring of its joint venture with China's state-owned automaker SAIC Motor Corp. Ltd. GM expects $2.6 billion to $2.9 billion in impairment charges, as well as $2.7 billion in...
The Volkswagen Group revealed on Wednesday that it sold its plant in Urumqi, the capital of China’s Xinjiang region. The site was a joint venture with Chinese state-owned car firm SAIC Motor Corp. Ltd. Volkswagen said it also sold test tracks in the cities of Turpan and Anting, leaving it with no...
The European Commission announced on Thursday that it will move forward with imposing provisional countervailing tariffs on battery electric vehicle (BEV) imports from China, citing "unfair subsidization" that threatens Europe's domestic market.Shenzhen-based BYD will be slapped with a 17.4%...
SAIC General Motors Corporation Limited, a joint venture between General Motors Company and SAIC Motor, announced on Friday that its electric vehicles will be able to access Tesla's supercharging station network in China before the year's end.
Namely, Tesla currently has ten supercharging...
Volkswagen AG will stop producing vehicles with manual transmission at its joint venture with SAIC Motor Corp. in China, the Wall Street Journal reported citing a company spokesperson. The manufacture will stop in April 2024 due to diminished demand for manual cars in China.
A source said the...
A total of five companies sold more than 10,000 electric vehicles in China in February, the China Passenger Car Association (CPCA) revealed in a report released on Tuesday.
BYD Auto Co. Ltd. led the chart with 87,473 cars sold, followed by Tesla China with 56,515 and SAIC-GM-Wuling Automobile with...
United States information technology company Science Applications International Corporation (SAIC) announced that it will be acquiring Engility Holdings Inc in a $2.5 billion stock deal. The transaction is valued at $40.44 per share of Engility common stock and also includes Engility’s $900...
Banma Network Technology, a project jointly established by Alibaba Group Holding Ltd. and SAIC Motor Corp Ltd., started a test of an automatized system at a service station operated by Royal Dutch Shell Plc. The statement published by China's major online retailer revealed the facility in Beijing...
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