Chinese car manufacturers may not be as well known internationally as their Japanese counterparts, but that may change as the green car era gathers pace.
The country’s biggest manufacturer, SAIC Motor Corporation has unveiled plans to set up a venture with its state-owned parent that will invest 2billion yuan (approximately $293million) towards the development of green cars.
The venture will put the focus on the development of green cars such as hybrids and electrics with the SAIC group holding a 90 per cent stake.
It’s not SAIC’s first commitment towards green cars. Back in January, the company formed a venture with General Motors (GM) to roll out its first locally produced hybrid car. It also stated that it would introduce fuel-cell vehicles to the Chinese motoring market after 2010.
Indeed the Chinese are determined to play catch up with the rest of the world. BYD Auto has already captured headlines with plans to launch an electric car in China during the second half of 2009. The company is highly sought after and may soon expand into America too.
