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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.
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%.
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.
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
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 has struggled in recent years, with SAIC stock having posted sharp declines in 2011 and 2012 in response to adverse conditions among companies relying on the federal government for ...
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 ...
This is a list of current and former automobiles produced by Chinese automaker SAIC Motor Corp., Ltd. (abbreviated as SAIC), under its brands of IM, Maxus, MG, Rising, Roewe. In light of SAIC's frequent practice of rebadging among its various brands, this list will prioritize showcasing the original models instead of their rebadged ones.