en.Wedoany.com Reported - On August 5, SAIC Motor and General Motors signed a joint venture renewal agreement, extending the term of SAIC-GM's joint venture by 20 years to 2047. Both parties stated that this renewal, built on nearly 30 years of successful cooperation, represents a vote of confidence in the long-term value of China's automotive market and in SAIC-GM's transformation capabilities and development prospects amid the profound changes reshaping the global automotive industry.

The two shareholders will further coordinate resources in technology R&D, supply chains, and global markets to provide sustained support for SAIC-GM's intelligent and electric transformation, local innovation, global expansion, and long-term healthy development. From now through 2030, SAIC-GM will launch at least 30 new energy vehicle models, consolidating its leading position among joint ventures in new energy penetration while accelerating its entry into the ranks of mainstream new energy brands in China.

In the field of intelligence, SAIC-GM will further integrate local R&D capabilities, actively embrace China's technology industry chain, and accelerate the R&D and product application of technologies including intelligent cockpits and advanced autonomous driving, delivering smarter, safer, and higher-quality intelligent mobility experiences for Chinese consumers.

It is understood that this renewal not only focuses on the long-term development of the Chinese market but will also open up new space for SAIC-GM's globalization. In the past, the joint venture primarily brought global technology into China and localized its application based on Chinese market demands; in the future, SAIC-GM will more fully leverage China's strengths in user insights, technological innovation, intelligent manufacturing, and supply chain efficiency, promoting more products and technologies defined, developed, and manufactured in China to serve global markets, achieving a paradigm shift from "global localization" to "China globalization."

SAIC-GM will also increase investment in new energy export business. The Buick Electra E7 will officially enter overseas markets in October this year, becoming the first high-end new energy model from the Buick brand and SAIC-GM to go global.