SAIC-GM India JV to become profitable within three years

Chinese automaker Shanghai Automotive Industry Corporation (SAIC) has announced that its Indian-based joint venture (JV) with General Motors (GM) is expected to become profitable within the next three years. SAIC Chairman Hu Maoyuan told Reuters that the Indian vehicle market is expected to reach 5 million units per annum (upa) by 2015 from the current 2 million upa, and it will consequently become the company’s biggest market outside China. He added that, “We want to [first] build a stable base [in India], then we can compete in the whole of Southeast Asia.” (April 8, 2010)