NAC and SAIC to merge to form Chinese car giant
Author: Robin Brown
Published: 27 December 2007
Chinese car giants SAIC and Yuejin Motor, the parent company of Nanjing Automobile Corporation (NAC), are to merge.
Both SAIC and Yuejin Motor, the parent company of Nanjing Automobile Corporation (NAC) have confirmed the integrated cooperation between each other after five months’ delicate planning.
The automotive businesses of NAC will be fully integrated into SAIC, while other parts of NAC will be integrated into SAIC Moto or spun off into a new joint venture, Donghua Company.
The long term objective of the cooperation is to build SAIC into China´s largest automaker with global competitiveness while NAC into a leading manufacturing base in China.
Both companies hope that the merger will benefit SAIC through concentrating resources and R&D and make the manufacturer more competitive on a global stage.
Between them SAIC and NAC own what remains of MG Rover. SAIC has committed itself to continued R&D, sales and marketing and manufacturing capabilities at it UK plant in Longbridge
Following the integration there will be a further input of resources into Longbridge. With the TF being the first product launched, it will be followed by other new MG products.
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