SAIC Motor will start selling own-brand cars based on designs from Britain’s collapsed MG Rover in Europe from next year, a state newspaper on Monday quoted an executive as saying, Reuters reported.
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SAIC may also start building cars in Europe and eventually wants to sell to all the world’s major auto markets, the official China Daily cited Wang Xiaoqiu, general manager of SAIC’s own brand unit, as saying, the report added.
“Our priority overseas markets will include Britain, the Iberian peninsula, central and eastern Europe and Latin American,” said Wang, head of SAIC Motor Manufacturing.
According to Reuters, Wang said the first model to hit the European market would be based on the Rover 75, with other models coming in 2008.
By 2010, SAIC may have set up its own factories in either Europe or Latin America and the company wants to sell to the North American, Russian, Australian and Middle Eastern markets eventually, he reportedly added.
Reuters noted that General Motors and Volkswagen partner SAIC last February set up a $US460m unit to make self-developed cars later this year based on MG Rover technology acquired from the failed car maker.
