SAIC enters new energy vehicles market in 2012

Following its highly successful joint ventures (JVs) with General Motors (GM) and Volkswagen (VW) for traditional vehicles, Shanghai Automotive Industry Corporation (SAIC) announced plans to expand and establish its leadership in new energy vehicles. Ling Tianjun, the chief engineer of the company’s new energy vehicle division announced that SAIC plans to begin production of electric and plug-in hybrid vehicles this year. Automotive News China said that the company’s Roewe E50 electric car will go into production in October 2012 and another plug-in hybrid electric vehicle (PHEV), the R550, will be produced towards the end of this year. The Roewe E50 is powered by a lithium-ion battery, which has a maximum speed of 75 miles per hour and a range of 150 kilometers on a full charge. The R550 is powered by a 1.5-liter gasoline engine and a lithium-ion battery. It has an electric range of 50 km. (May 1, 2012)