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In 2011, SAIC-GM sold 1,200,355 vehicles in the Chinese market. [6] SAIC-GM is the largest joint venture GM has in China. [7] In February 2010, SAIC acquired an additional 1 percent stake in the joint venture for US$85 million and assistance in securing a US$400 million line of credit to boost SAIC's total share of SAIC-GM to 51%.
During the April Investor Day, management emphasized plans to transition SAIC toward higher-value work, which is still in its early stages. Meanwhile, the analyst notes that last q
In 2012 SAIC was ordered to pay $500 million to the City of New York for overbilling the city over a period of seven years on the CityTime contract. [15] [16] In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract. [17]
SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai.Founded in 1955, [4] it is currently the largest of the "Big Four" state-owned car manufacturers of China ahead of FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with sales of 5.02 million vehicles in 2023.
That is exactly what Shanghai Automotive Industry Corp., GM’s partner to make Buicks in 1997, did. SAIC, as GM’s Chinese partner is known, transferred engineers working for its joint venture ...
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However, Leidos is the legal successor of the original SAIC and retains SAIC's pre-2013 stock price and corporate filing history. [ 24 ] Before the split, Leidos employed 39,600 employees and reported $11.17 billion in revenue and $525 million net income for its fiscal year ended January 31, 2013, [ 25 ] making it number 240 [ 26 ] on the ...
SAIC's tangible book value is $274.0 million, so no yellow flags here. Foolish bottom line If you own SAIC, or any other company that fails one of these checks, make sure you understand the ...