Liuzhou
Wuling Motors Co. has signed a framework partnership agreement with both General
Motors China Group alongside Shanghai Automotive Industry Corp.
GM China is set to take a 34 per cent equity stake in the company by purchasing
B shares, while Shanghai Automotive Industry Corp. will own 50.1 per cent of
Wuling shares – through asset reallocation – becoming Wuling`s majority shareholder.
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Wuling Motors – which has a capacity of 150,000 per annum – will continue with
mini vehicle production before SAIC and GM introduce their new models.
