SAIC Motor and CP Group of Thailand are planning a joint venture (JV) to produce and sell MG models for the ASEAN region.
Initial spend is around CNY1.8bn (US$286m) with SAIC Motor holding 51% through SAIC Hong Kong Investment Company and SAIC UK while CP Group has 49%.
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Car sales will start in 2014 with initial – right hand drive – production planned at 50,000 units a year. Additional models will eventually take annual capacity to 200,000 units.
CP Group has previous experience with Chinese-Thai cooperation and operating joint ventures.
