On August 5, 2026, SAIC Group and General Motors signed a strategic renewal agreement, extending the SAIC-GM joint venture term by 20 years to 2047. Following GAC Honda's renewal to 2038 and SAIC Volkswagen's renewal to 2040, this marks a shift from early-stage technology import to co-creation and capability building in China-foreign automotive partnerships.
3632 days ago
GAC Honda and Honda Motor have renewed their joint venture agreement through 2038 with cumulative sales exceeding 11 million units. Meanwhile, China's first national safety standard for new energy vehicle maintenance will take effect on August 1.
32729 days ago
In June 2026, China's fuel passenger vehicle retail sales plunged 39% year-on-year, with conventional fuel vehicles' market share dropping to just 37.2%. Some joint venture brands offered discounts exceeding 30%, with certain models selling at 40% off original prices. Meanwhile, new energy vehicle penetration has exceeded 60% for three consecutive months.
33739 days ago
GAC Group expects a net loss of 4.06 to 4.57 billion yuan for H1 2026, contrasting with total sales of 773,100 units, up 2.35% year-over-year. NEVs account for over 60% of sales, while self-owned brands and exports both delivered strong growth. The sharp decline in joint venture sales remains the primary drag on overall profitability.
47139 days ago
EX1000
