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SAIC "Wedded" to Wuling
Shanghai Automotive Industry Corporation (Group) (SAIC) has lately made Liuzhou Wuling Motors Co., Ltd., a branch company of his by signing a contract with the latter.
This betrothal, as an important step of assets reorganization in China's automotive industry, will butter both sides by optimizing their respective advantages.
According to the contract, the SAIC will reorganize the latter into SAIC Wuling Motors Ltd by transferring over 75.9 percent of its state-owned assets share.
By PD Online Staff Huang Ying
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