Chinese Automaker SAIC Motor Corp. to Launch Own-Brand Car

SHANGHAI, China October 12, 2006; The AP reported that Chinese automaker SAIC Motor Corp., the local partner of both General Motors Corp. and Volkswagen AG, says it will launch its first own-brand car, the Roewe, on Oct 24.

The company held a name-launching ceremony Thursday in Shanghai.

State-owned SAIC set up a new company, SAIC Motor Manufacturing Co., earlier this year to develop its own-brand cars using technology for two Rover models, the 25 and the 75, bought from Britain's MG Rover Group Ltd. last year.

But SAIC lost out in a bid for the Rover brand name, which was purchased by Ford Motor Co. for its Land Rover business. Chinese rival Nanjing Automobile Group purchased the bulk of Rover's assets.

SAIC staff contacted by phone confirmed that the name launching ceremony was under way and that the car would be launched on Oct. 24 but refused further comment.

A report in Thursday's state-run newspaper Shanghai Daily said the company's first own-brand model sedan also would be dubbed the 750E, or Rong Wei in Chinese, roughly meaning "glorious power." The company also has registered several other Chinese names, the report said.