Invested 84.5 million U.S. dollars in the acquisition of 1% stake in GM, and GM were cast, with 100 million U.S. dollars to set up new companies to enter the Indian market and other series of moves after the reproduction of capital operation SAIC action. This morning, the Shanghai Automotive (600104.SH) issued a public notice, said A123 Systems Inc. and the United States about 20 million U.S. dollars joint venture in the Jiading District of Shanghai New Energy and Industrial base for the establishment of new energy automotive batteries Systems  Inspiron B120 battery , Inspiron B130 battery , Inspiron E1405 battery .

It is understood that the newly established Shanghai Czech New Power Battery Systems Co., Ltd. will focus on the development, production vehicle battery power system, that is, the battery modules, battery management, electric core balance, sensors and control, thermal management, security management and physical integration of and other components on the customer-oriented professional development, integration and production launch of a complete energy storage system solutions. SAIC relevant responsible person, This is to further implement the company’s new energy vehicles, laptop battery  development strategy, speed up the hybrid / electric vehicle battery systems key components in the pace of industrialization.

Announcement shows that the two sides will cooperate in accordance with the equity ratio to 51:49. The company’s registered capital of 950 million, of which Shanghai Automotive invested 4.845 million U.S. dollars, holding 51% of the shares; A123 invested 4.655 million U.S. dollars, holding 49% stake. Understood that partners A123 Systems Inc. in the United States at the Massachusetts Institute of Technology was established in 2001, Latitude D830 battery is a lithium iron phosphate battery technology in a leading NASDAQ listed companies. A123 annual production of hundreds of tons of cathode material powders and millions of batteries die, and in the United States federal, Michigan state government and the Department of Energy’s advanced technology, automobile manufacturing incentive program’s support, the building of a world-class large-scale lithium-ion power Core and battery system capacity.

SAIC disclosure, a joint venture company will design, own and use their own trademarks. In accordance with the planning of Shanghai Automotive in 2010, integrated fuel-efficient 20% of the Roewe 750 in the mixed hybrid cars will be mass market; in 2012, more than 50% of fuel-efficient plug-in of the Roewe 550 sedan will be available in volume strong mixing.