Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
Login Archives Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • AI Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    • Postcards
    ×
  • Subscribe
Enter stock ticker or keyword
×
Join 100,000+ Like-Minded Investors Today
Twitter

SAIC, China’s No. 1 Carmaker, to Launch Series of Hybrid Cars

By , Money Morning • May 10, 2009

Start the conversation

Leave a Reply Click here to cancel reply.

You must be logged in to post a comment.

Money Morning Staff Reports

SAIC Motor Co. Ltd., China's largest carmaker and the partner of both General Motors Corp. (NYSE: GM) and Volkswagen AG (OTC ADR: VLKAY) in that fast-growing Asian country, plans to launch a series of hybrid and electric vehicles by 2012 - part of a move by China's carmakers to meet the growing market demand for "new-energy vehicles."

SAIC said its plans for 2010 include the introduction of a hybrid Roewe 750 sedan. The new technology could improve fuel effiency by 20% over the existing non-green model of the same sedan. SAIC's "blueprint" for  new energy vehicles was unveiled this week, according to a report by ShanghaiDaily.com.

Another plug-in hybrid version of the Roewe 550 mid-class sedan that could slash fuel consumption by 50% is due to hit the market by 2012, when SAIC's self-developed fleet of electric vehicles will start being marketed.

SAIC is partnering with GM and VW on these new-energy vehicles and says its investment on this new category of alternative autos will rise to nearly $900 million (6 billion yuan) because of its focus on hybrid models, and on cars that rely solely on electric power.

As China's economy has grown in both scale and sophistication, concerns about energy use and the environment have advanced, as well - stoking demand for energy-efficient cars and trucks. China's automakers have already invested millions in these new transportation technologies, and Chinese carmakers have pushed for mass-production to begin in order to meet this escalation in demand.

Challenges and obstacles abound. Alternative-energy vehicles cost a lot more, and they require a national service-and-refueling "infrastructure" to be able to operate. That infrastructure doesn't exist in China, right now.

Despite these problems, however, China's government wants to 60,000 new-energy vehicles - including plug-in electric and plug-in hybrid cars - on the country's highways streets by 2012.

SAIC has reportedly inked a deal with the Shanghai city government to provide roughly 1,000 new-energy vehicles - including all-electric, fuel cell and hybrids - for the 2010 World Expo.

SAIC has already unveiled several "green" cars over the past couple of years, including a VW Passat Lingyu - a car developed specifically for the Chinese market - and a hybrid Buick LaCrosse sedan (called the Eco-Hybrid).

China's Chery Automobile Co. Ltd. also said it would launch two hybrid models this year after a pure electric car rolled off the assembly line in February.

According to ShanghaiDaily, China has granted production permits to five models, including BYD Co. Ltd.'s F3 dual-mode electric car, Chongqing Changan Automobile Co. Ltd.'s Jiexun-HEV hybrid and Toyota Motor Corp.'s (NYSE ADR: TM) Prius hybrid, which has battled perceptions that its price is much higher than hybrid models made by rival carmakers.

News and Related Story Links:

  • ShanghaiDaily.com:
    SAIC to unveil new Hybrid Vehicles
    .
  • AutoBlogGreen.com:
    Shanghai 2009: Roewe 750 Hybrid and EV.
  • Shanghai 2010 World Expo:
    Official Web Site
    .
  • Edmunds.com:
    China Raises the Green Flag as Buick LaCrosse Eco-Hybrid Debuts
    .
  • EngineeringTV.com:
    BYD Dual-Mode Vehicles.
  • DanceWithTheShadows.com:
    Jiexun-HEV hybrid
    .
  • Money Morning View From China Series (2009):
    Is China Detroit's Lifeline?
  • Money Morning View From China Series (2009):
    While the Rest of the World is Stuck in Reverse, the China Auto Market Zooms Ahead.
  • Money Morning View From China Series (2008):
    The View From China: Despite the Auto Industry's Pedal-to-the-Metal Growth, a Safety Play May Offer the Safest Play
    .
  • The China Post:
    In hybrid price war, new Prius battles Insight

Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter

Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…

Claim My Free Report

Subscribe
Login
Notify of
guest

guest

0 Comments
Inline Feedbacks
View all comments


Latest News

September 22, 2023 • By Shah Gilani

earnings
Why the Fed's "Higher for Longer" Message on Interest Rates is Bogus

September 22, 2023 • By Tom Gentile

This is the Top 'Worst-in-Breed' Stock Heading into October

September 21, 2023 • By Shah Gilani

earnings
The Best Auto Stocks to Buy (or Avoid) Right Now
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Penny Hawk Midday Momentum
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Quantum Data Profits Flashpoint Trader Darknet Alpha Accelerators Brutus Alerts Resource Traders Alliance L.A.U.N.C.H. Investor Rob Roy Trader Long-Term Equity Profits

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell or Share My Personal Information

wpDiscuz