SAIC opens equity investment arm
SAIC Motor Corp. unveiled its first equity investment company last week in Shanghai.
With registered capital of 500 million yuan ($78 million), the new SAIC subsidiary will invest in companies with advanced technologies such as electronics and alternative energy vehicles.
It also will invest in telematics and aftermarket ventures, SAIC said in a statement.
SAIC, which is headquartered in Shanghai, has joint ventures with General Motors Co. and Volkswagen AG. It also builds passenger and commercial vehicles carrying its own brands.
The company is China's largest automaker.
