Shanghai Auto (SAIC) has announced that it has gained approval from the board to set up an investment firm in Hong Kong with registered capital of USD9.9m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The new firm is expected to help SAIC upgrade its global operations and create a financing platform for its overseas business.
Reports say it will mainly provide services concerning complete vehicles and core parts in areas such as global trade, investment, technology, service trade, training and consulting.
Moreover, the Shanghai-listed automaker will ‘still attach great importance to the mainland business’, it says.
