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Beijing Automotive Industry Holdings Corporation (BAIC for short as below) set a new energy company in Beijing recently. The new energy company produces pure electric and hybrid vehicles. According to the plans of BAIC, the missions of Beijing New Energy Automotive Company are R&D, manufacture and sales of key auto parts, electric autos, hybrid autos and charging systems. The annual production capacity will reach 20,000 to 40,000 units. BAIC plans the annual sales revenue of new energy vehicles reaching 15 billion yuan by 2015.
Minibus Produced by SAIC
As one of the top 3 automotive corporations in China, Shanghai Automotive Industry Corporation (Group) (“SAIC” for short) is mainly engaged in manufacturing, sales, research and development, and investment in passenger cars, commercial vehicles and components, as well as related services trade and financial business. In 2009, the company entered the Fortune Global 500 list, ranking 359.