10.10SAIC said to acquire British van-maker LDV

SAIC said to acquire British van-maker LDV

 

http://autonews.gasgoo.com/auto-news/1012475/SAIC-said-to-acquire-British-va
n-maker-LDV.html

 

Shanghai, October 10 (Gasgoo.com) Chinese auto giant SAIC Motor is
interested in acquiring a British light commercial vehicle manufacturer
called LDV, Gasgoo.com said yesterday, citing sources familiar with the
matter. 

 

In June 2009, Birmingham-based van-maker LDV went into receivership. If the
acquisition by SAIC comes through, the Chinese automaker will locally
produce and sell the LDV light commercial vehicles in the UK.

 

Media said that LDV is also developing an electric version of the Maxus
model, but further investment is needed for achieving large-scale mass
production of this electric vehicle. 

 

An LDV supplier claimed that the Maxus production would be eventually moved
to China and the vast majority of the West Midland production jobs would be
lost. The Maxus would be built in Shanghai alongside the Roewe, he said.

 

SAIC did not deny the reports, but said "currently we have no news to
release on the LDV deal, and no comment to make." 

 

LDV Group was previously owned by Russian automaker GAZ Group. After its
recent application to the British Government for 40 million pounds had been
rejected, LDV fell into a crisis.

 

The British van-maker tried to hold talks with Malaysian Weststar for sale,
but finally failed, and now the company is in the receivership of a UK
government-designated administrative body.

 

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