http://www.china-briefing.com/news/2011/...nt-venture.html
Quote:
General Motors (GM) recently announced a joint venture (JV) in the promising electric car market with Chinese auto giant, SAIC Motor, in what will be the 11th JV between the two industry leaders. The partnership, Pan Asia Technical Automotive Center (PATAC), will constitute what’s being called “a new electric vehicle architecture” in China with GM and PATAC engineers collaborating on the development of key components and vehicle structures, according to a GM news release.
As expected, GM will bring to the table much of the needed technical expertise and its global network, with SAIC Motor contributing its knowledge of the domestic market and distribution channels. GM innovations in batteries and inverters will be transferred to PATAC, while SAIC will inject an undisclosed cash contribution into the project in recognition of GM`s past and present technological contributions, according to GM`s Vice-Chairman Stephen Girsky.
In the end, the two companies expect to see new innovations hit the market faster, and improved economies of scale, said SAIC President Chen Hong.
And this was interesting:
Quote:
Given these ambitious plans, combined national and municipal subsidies for electric vehicles could total up to US$19,300 per car, likely putting the partnership’s vehicles at a very competitive price in China.
Further proving that these cars exist to funnel government money into car companies, and not to provide cars that people actually want. That subsidy is nearly 3X the country's average annual income.
Quote:
General Motors (GM) recently announced a joint venture (JV) in the promising electric car market with Chinese auto giant, SAIC Motor, in what will be the 11th JV between the two industry leaders. The partnership, Pan Asia Technical Automotive Center (PATAC), will constitute what’s being called “a new electric vehicle architecture” in China with GM and PATAC engineers collaborating on the development of key components and vehicle structures, according to a GM news release.
As expected, GM will bring to the table much of the needed technical expertise and its global network, with SAIC Motor contributing its knowledge of the domestic market and distribution channels. GM innovations in batteries and inverters will be transferred to PATAC, while SAIC will inject an undisclosed cash contribution into the project in recognition of GM`s past and present technological contributions, according to GM`s Vice-Chairman Stephen Girsky.
In the end, the two companies expect to see new innovations hit the market faster, and improved economies of scale, said SAIC President Chen Hong.
And this was interesting:
Quote:
Given these ambitious plans, combined national and municipal subsidies for electric vehicles could total up to US$19,300 per car, likely putting the partnership’s vehicles at a very competitive price in China.
Further proving that these cars exist to funnel government money into car companies, and not to provide cars that people actually want. That subsidy is nearly 3X the country's average annual income.
