GM and SAIC Motor extended their joint venture partnership in China for another 20 years. Beyond China, SAIC-GM will begin exporting Buick vehicles overseas later this year.
SAIC-GM will export Buick NEVs overseas to drive growth
The 20-year agreement, which extends the partnership until 2047, marks the next chapter for SAIC-GM.
“Today’s agreement reflects our shared confidence in SAIC-GM and its long-term growth potential,” John Roth, GM’s senior vice president and president of GM China, said on Wednesday.
First established nearly 30 years ago in 1997, SAIC-GM plans to “sharpen its focus” on the Buick and Cadillac brands to drive growth in China. By 2030, SAIC-GM will launch at least 30 new energy vehicles (NEVs), including plug-in hybrids and pure-electric models.
Outside of China, Roth said the joint venture sees “meaningful opportunities to compete in select international markets,” such as the Middle East, Africa, South America, Mexico and Asia-Pacific.
Buick’s premium sub-brand, Electra, will be a cornerstone of the company’s growth plans. Within a year of launching, the Buick Electra lineup now consists of sedans, SUVs, and MPVs. It also offers a range of powertrain choices, including battery electric (EV), plug-in hybrid (PHEV), and extended range electric vehicles (EREVs).
The E7, now its top-selling vehicle, delivered over 10,000 units in its first month on the market, a new record among NEVs from a joint venture in China.
GM said the Buick Electra E7 “also represents SAIC-GM’s growth opportunities beyond China,” and will be the first premium NEV model to be exported overseas, starting in October.
The Buick Electra E7, a midsize plug-in hybrid SUV, launched in China in April. It’s available in three variants, with introductory prices ranging from RMB 154,900 to RMB 194,900 ($23,000 to $28,900).
Based on the Xiao Yao super architecture, the plug-in hybrid SUV is equipped with a 1.5-liter engine and a 165 kW electric motor.
Drawing power from a 32.6 kWh battery pack, the E7 has a pure electric CLTC driving range of 230 km (143 mi). Combined, it has a CLTC range of up to 1,630 km (1,012 mi).
Inside, the SUV is much more advanced and luxurious than the Buick vehicles we’re accustomed to. The cabin features a large 15.6″ floating center infotainment, zero-gravity reclining seats, a 15.6″ rear entertainment screen, a 20-speaker Dolby Atmos audio system, and even a built-in refrigerator.
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