CHINA: SAIC, Ssangyong, agree JV
State-owned Shanghai Automotive Industry Corp (SAIC), the Chinese automaker which recently started kit assembly of the MGTF roadster at the former MG Rover plant in Longbridge, England, has agreed with Korea's Ssangyong Motor to set up a joint venture by 2011.
China Knowledge Online reported that an SAIC plant in Yizheng, Jiangsu Province, will be the production base for the joint venture which will build Ssangyong's Kyron SUV and SAICs Roewe models. No financial details were released.
Ssangyong, 51% owned by SAIC, is cooperating with the parent company to boost its presence in China, the report added.