Skip to comments.GM announces EV development deal with Chinese partner
Posted on 01/08/2012 11:57:46 AM PST by jazusamo
MSN Autos - General Motors announced in Shanghai today that it will jointly develop an electric vehicle with longtime Chinese partner SAIC -- a move that some U.S. lawmakers have likened to a shakedown.
China has built its manufacturing infrastructure around low-cost production and continues to lag behind other developed countries when it comes to developing and implementing cutting-edge automotive technology. For the past 25 years, the Chinese government has required foreign automakers to partner with Chinese companies, which are required to own a stake of at least 50 percent. China also imposes heavy tariffs on imported cars, which some argue violates world trade rules, and offers substantial subsidies of about $19,000 per electric vehicle only for cars built in China.
GM Vice Chairman Steve Girsky seemed to hint to journalists that the Chevy Volt could be built in China in the future, saying that if GM localizes production in China, "eventually [the Volt] won't have a tariff and it will get the subsidy." But he said no decision had been made on that front and denied that SAIC or the Chinese government had demanded the proprietary Volt technology. GM has stated it will not hand over the intellectual property that underpins the Volt, though a future electric car developed with government-owned SAIC will undoubtedly be based on that technology to a certain degree.
The deal was signed during a GM board meeting in Shanghai, the first to take place outside the U.S.
China overtook the U.S. as the world's largest car market in 2009. On Monday, SAIC, which began production in late 1998, saw its 5 millionth vehicle roll off the assembly line.
As is pointed out in article, the Chinese will be the benefactor of the taxpayer funded Volt technology from Government Motors.
Wonder how crash-prone these cars will be . . . like their high-speed trains?
NO Unions in China.. well duuugh..
U.S. Unionized Auto workers are Soooo dumb..
Since this is the same GM that screwed their bond holders for the unions and accepted government bailouts it can be likened to taxpayers funding business in China.
Another piece of the Constitution shredded via 0bama.
the Chinese will be the benefactor of the taxpayer funded Volt technology from Government Motors
That will bring the Chinese to their knees
The people said "Let them go bankrupT". Obama the dictator said different. Congress needs a whoopin' too.
Well said. This GM/UAW fiasco has been a huge ripoff for the American taxpayer and now GM will split the profits to come with China.
The American-made, Obam-supported Chevrolet Volt electric vehicle already had to be recalled due to catching on fire, so GMC is going to China for an EV? Hahahahahaha! It’d be funnier if I wasn’t paying for it!!
“China also imposes heavy tariffs on imported cars, which some argue violates world trade rules, and offers substantial subsidies of about $19,000 per electric vehicle only for cars built in China. “
OMG, the Chinese are sabotaging their own economic growth! Don’t they know free trade would benefit them and that protectionism destroys their industry?
I suppose that's one way to destroy the Chinese economy...
China is amazing. Very soon they will be producing more of everything than anyone else in the world. And when that happens, soon after, they will be buying more of everything than anyone else in the world.
What other kind of technology is there in Red China other than stolen? When the Nytimese publish an article agreeing that one of their favorite countries has problems you know it's true!
The Real Problem With China "For the United States, the No. 1 problem with Chinas economy is probably intellectual property theft. Technology companies, for example, continue to notice Chinese government agencies downloading software updates for programs they have never bought, at least not legally . . . Chinas leaders have reason to be nervous about all the barriers they have built. Chinas elite, in government and business, are deeply concerned that their companies remain unable to create truly innovative products."
China calls us a paper tiger. Red China is carbon paper -- and they had to steal the carbon paper!
.. and when Red China kicks GM out with NOTHING! don't go begging Congress for another TARP, GM -- or we'll go asking Congress to go after you for treason!
Well said, there isn't any.
“As is pointed out in article, the Chinese will be the benefactor of the taxpayer funded Volt technology from Government Motors.”
In the intelligence world, they have a term for useless technology meant to lead an enemy down a blind alley: “disinformation”.
Never fear. The Volt is just a Trojan Horse to burn down the Chinese infrastructure. ;-)
There already is a trade war between China and the US - only one side has been fighting it however...
Does anybody own GM stock anymore?
GM will be gone in 5 years...sooner if Obama is re-elected.
GM stock is under $23.00 now and the IPO was $33.00 in November 2010.
.. and this time don't screw up like the Bolsheviks did! Keep it going and above all, keep all the wealth in the Party!
Aren't all the billionaires members of the Party or princelings?
For the past 25 years, the Chinese government has required foreign automakers to partner with Chinese [government owned] companies, which are required to own a stake of at least 50 percent. . . .
China's SAIC is a state owned enterprise (SOE).
A while ago I bought a Chinese made battery powered sprayer. It totally failed twice, each time almost just out of the box. Bad seals caused the failures. If they can’t make something as simple as a garden sprayer with good seals, their coal powered (aka “electric”) cars should really be crap.
Maybe the ChiComs are just deliberately exporting all of their defective crap to the US. A scathingly brilliant plan...since they know we can’t afford to cut them off as our main supplier of goods.