While the Big Three U.S. automakers are experiencing wrenching business restructures, China’s automakers are gearing up for the prosperous green business.
Shanghai-based SAIC Motor, the country’s largest car maker, said that it is working on a series of hybrid and electric vehicles that are scheduled to be introduced by 2012, reported Shanghai Daily on May 6.
The first model, a hybrid Roewe 750 sedan, was displayed on the 13th at the Shanghai Auto Show and will be launched next year. last week, will be launched due next year.
According to SAIC, the Chinese partner of General Motors and Volkswagen AG, it has signed a contract with the Shanghai government to provide around 1,000 new-energy vehicles for the 2010 World Expo.
China is going to invest 10 billion yuan in the next three years to help develop green cars nationwide.