Shanghai Automotive Industry Corporation To Spend $255 Million On Technology Center

SHANGHAI - September 4, 2007:

Shanghai Automotive Industry Corporation (SAIC) will inject 1.92 billion yuan ($255 milliin) to strengthen its technology center, the company's president announced yesterday.

"The investment will be used to develop more than 30 own brand vehicles models based on 5 platforms. These vehicles will cover a wide price range from 65,000 yuan ($8,816) to 300,000 yuan (39,767)," Hu Maoyuan, SAIC president said.

After a successful debut of Roewe, the first product developed by SAIC technology center, SAIC is now planning to develop six other car models under the code name of W261, S161, S261, S100 and BP21.

The center is also developing powertrain systems, which include 1.3 to 1.6 liter, 2.0-3.6 liter gasoline engines as well as 2.0-3.6 liter diesel engines.

In terms of transmission technology, the center is working on six speed, four speed transmission and six speed dual clutch transmission.

The SAIC technology center is located in Anting, a western suburb of Shanghai. By 2010, the Center will have the ability to develop completely built vehicles; by 2012, the center will have the ability to develop world-class automotive technology.

For more information about the burgeoning auto industry in China please visit http://www.gasgoo.com/Autobiz/list/7/China-News.html