GM’s joint venture SAIC-GM-Wuling plans to assembly cars in Egypt from Chevrolet Move kits made in China. The automaker wants to compete in the same markets targeted by Chinese domestic car exporters.
The automaker said on Tuesday that production would begin somewhere in the third quarter of 2012, and that it plans to produce about 5,000 Moves a year. The move will help SAIC-GM-Wuling to increase output and improve its competitiveness in Egypt and other African markets.
The announcement comes shortly after GM and Shanghai Automotive (SAIC) announced that they were jointly establishing a new sales company. The new company will be responsible for Shanghai GM’s sales work in the country.
Chinese exports rose 15.9 percent in October from a year earlier, cooling from 17.1 percent the previous month and less than the median estimate in a Bloomberg survey of 16.1 percent growth, customs bureau data showed on Nov. 10.
SAIC-GM-Wuling Automobile Co. Ltd. (SAIC-GM-Wuling) is a joint venture that was officially launched on November 18, 2002. SAIC has a 50.1 percent stake, GM China a 44.0 percent stake and Wuling Motors a 5.9 percent stake.
SAIC-GM-Wuling sold 822,227 vehicles in China in the first eight months of 2011.