SAIC Motor, China’s primary carmaker, plans to build a plant in Europe, the company said Tuesday.
Last year, SAIC Motor’s sales in the European market surpassed 100,000 vehicles. With the increase in export volume, establishing a factory for localized production has become a priority on the company’s agenda, said Yu De, SAIC Motor president assistant and managing director of the international business department.
In the first half of this year, the Shanghai-based carmaker achieved overseas sales of 530,000 vehicles, a 40 percent year-on-year growth. The figure reached over 1.01 million units last year and will likely exceed 1.2 million this year.—Xinhua
