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通用汽车表示，随着合资协议即将到期，上汽通用得到了股东的全力支持 2026-03-10
SAIC-GM has the unwavering support of its joint venture parters -- China’s SAIC Motor and the US’ General Motors -- and they have approved follow-up investment plans, General Manager Lu Xiao said.
SAIC and GM set up SAIC-GM in June 1997, with each owning half of the Shanghai-based carmaker. Its 30-year agreement is due to expire next year. The JV’s medium- and long-term strategic development still enjoys the solid backing of both shareholders, Lu said at the 2026 SAIC-GM Dealer Partner Summit last week.
“SAIC-GM is no longer a traditional JV. With a lighter load, we’re now a startup team,” Lu noted. “As a mainstream JV brand, our goal for the next three years is to re-establish our leading position in the industry.”
As electrification and intelligent technologies reshape the auto industry, Chinese automakers have grown their market shares in recent years, leaving traditional JVs such as SAIC-GM facing weaker demand. Since Lu became GM in August 2024, the company has made operational changes that have begun delivering results.
SAIC-GM has been profitable for the past five quarters, improving dealer profitability and opening 78 new dealership stores last year alone, according to data Yicai obtained from the JV. Sales climbed 23 percent to 535,00 vehicles last year from 2024, while they rose 9.4 percent to 71,284 in the first two months of this year from a year earlier.
Under its three-year strategic plan released at the summit, SAIC-GM will focus on sustained profitability, adhere to local research and development and rapid iteration in technology and product development, and gradually expand its export business.
It intends to concentrate on the Buick and Cadillac brands while increasing resource investment to accelerate the rollout of competitive products and technologies so as to achieve high-quality and sustainable long-term growth, Lu said.
Per the plan, SAIC-GM aims to introduce more than 10 new or refreshed models annually over the next three years and hasten its electrification shift while continuing to expand market share in the fossil-fuel vehicle segment. The venture further aims to maintain its top position in multi-purpose vehicle sales, with its investment in MPV models expected to exceed CNY10 billion (USD1.4 billion) in the next three years.
Cadillac’s VisitQ, a full-size all-electric sports utility vehicle, will hit the market at the end of April, followed by Buick’s Electra E7 mid-year. Fuel models will also switch to localized electronic architectures to comprehensively enhance intelligent experiences.
Source: Yicai Global
