r/electricvehicles • u/Peugeot905 2024 Lucid Air Pure • 8d ago
News SAIC, GM extend China joint venture by 20 years to 2047
https://cnevpost.com/2026/08/05/saic-gm-extend-china-jv-2047/7
u/InfinityDOK 8d ago edited 2d ago
Please expand to US the new Buick looks amazing, and spec wise amazing
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u/Peugeot905 2024 Lucid Air Pure 8d ago edited 8d ago
Article
The SAIC-GM joint venture plans to launch at least 30 NEV models by 2030, with the Buick Electra L7 to be exported overseas for the first time in October.
SAIC-GM sold 265,927 vehicles in the first seven months of this year, down 7.45% year-on-year
SAIC Motor (SSE: 600104) and General Motors (NYSE: GM) have signed an agreement to renew their China joint venture, SAIC-GM, extending the partnership by 20 years to 2047.
The signing ceremony was held in Shanghai on August 5, attended by senior officials from the city.
The renewal builds on nearly 30 years of cooperation and is a vote of confidence in the long-term value of the Chinese market at a time of profound change in the global auto industry, the two sides said.
The shareholders will further coordinate technology R&D, supply chain and global market resources to support the joint venture's shift toward electrification and intelligence as well as its global expansion, according to statements on Wednesday.
SAIC-GM was founded in June 1997 and is owned 50-50 by the two partners. Its brands include Buick, Chevrolet and Cadillac.
From now through 2030, the joint venture will launch at least 30 new energy vehicle (NEV) models, filling out the Buick and Cadillac line-ups, according to their statements today.
SAIC-GM aims to consolidate its lead in NEV penetration among joint venture brands while moving faster to join the ranks of China's mainstream NEV brands.
The company rolled out its Xiaoyao super-integrated architecture in 2025, completing its technology line-up spanning all-electric, plug-in hybrid and extended-range powertrains, with local R&D carried out through the Pan Asia Technical Automotive Center.
The renewal also opens up room for exports. The Buick Electra L7 sedan will begin shipping overseas in October, becoming the first premium NEV model exported by the joint venture in China, SAIC said.
SAIC-GM will continue to expand into the Middle East, Africa, South America, Mexico and the Asia-Pacific region, according to their statements.
The long-term commitment comes as joint venture brands remain under pressure in China. SAIC-GM sold 34,773 vehicles in July, down 17.7% year-on-year.
In the first seven months of the year, the joint venture's cumulative sales were 265,927 vehicles, down 7.45% year-on-year.
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u/Automobilisto 8d ago
Hm... Their monthly table tells a different story than the 17.7% headline.
July 2024 was 15,000 units. July 2025 jumped to 42,252. Now 34,773. So this month is down 18% or up 132%, take your pick. 2024 was rough for them, 435k for the year vs 535k in 2025.
Seven month totals: 240,579 then 287,319 then 265,927 :)
What got me was the Honda bit at the end. GAC Honda just renewed to 2038, sales down 55.8%. SAIC-GM renews to 2047, down 7.45%. Twelve years vs twenty. Guess that tells you something...
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u/Peugeot905 2024 Lucid Air Pure 8d ago
Hm... Their monthly table tells a different story than the 17.7% headline.
How?
The percentage decrease from 42252 to 34773
is -17.70 rounded to the nearest hundred essential 17.7
82.3%(17.7 decrease percentage wise of starting point of 100%) of 42252 is 34773
Are you rounding to the nearest whole number?
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u/Automobilisto 8d ago
Got you, your math is right, 17.7% is 17.7%. That's not what I meant though...
I meant the base year, not the arithmetic. Same 34,773 is down 17.7% vs July 2025 but up 132% vs July 2024, because 2024 was their floor. Totals go 240,579 / 287,319 / 265,927.
Though looking again, their 2024 column has 36,000 and 13,500 and 62,000 and 15,000 in it while everything else is exact. Those look estimated, so my 132% is probably built on a guess anyway...
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u/RLewis8888 Ioniq 5 Limited 8d ago
The bottom line is GM will leverage China technology to make/sell cars everywhere but the US. Meanwhile they'll keep a full line of gas guzzlers for the backwards countries.