Shanghai Automotive Industry Corp collaborating with Yuejin Motor (Group) Corp

Shanghai Automotive Industry Corp collaborating with Yuejin Motor (Group) Corp

The Shanghai Automotive Industry Corp has announced that they have now signed a letter of intent with the Yuejin Motor (Group) Corp.

This new development would now enable them to tie up with the Nanjing Automobile Corp.

This would result in possibly the biggest alliance in China’s auto industry as they aim to boost the domestic production of vehicles which could be sold around the world.

The two companies said that they now plan to set up panels working on the possibility of cooperation on complete cars, auto parts and auto trades between the two state-owned car makers.

Market analysts had this to say: “The unity should help to consolidate resources for better efficiency, improve research and development capabilities, expand product mix and lift brand value for a win-win situation.”