SAIC Motor plans to expand the annual production capacity for cars carrying its own brands to 500,000 units by 2010, including 10,000 hybrid cars, a senior company official has said.
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Zhou Langhui, a SAIC vice president, told AFX that SAIC Motor hopes to boost the combined China market share of its car lineup, which includes MG, Roewe and Ssangyong, to 5% by 2010 and 8% by 2015.
SAIC Motor also plans to invest CNY32.8bn in developing its own cars, including CNY19bn for capacity expansion, CNY2.8bn for technology centers and CNY11bn for product development, said Zhou.
Sales of the Roewe 750 car, a model based on the Rover 75 rights purchased from the UK’s defunct MG Rover and introduced to the market last March, totalled 16,000 units in 2007.
This year SAIC Motor acquired Nanjing Auto and its MG brands as well.
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