The development of new energy vehicles in various countries is currently not satisfactory, and technological constraints have become the key to the development of new energy vehicles.

Yesterday, SAIC Motor Corporation (600104.SH, hereinafter referred to as "Shanghai Automotive") and the United States General Motors Corporation ("GM") announced jointly that the two sides will jointly develop a new generation of electric vehicle platforms. This is the second cooperation in the field of new energy vehicles after the two parties jointly developed a new generation of environmental protection and energy conservation powertrain technology last year.

This is also the first time that Chinese auto companies have jointly developed a new energy vehicle platform with an international large-scale automobile group. In 2010, SAIC Motor has already launched a 20% Roewe hybrid sedans that are fuel-efficient, and will soon launch a 50% fuel-efficient plug-in hybrid and pure electric car in 2012. And GM's Chevrolet Volt Wrangler increased electric vehicles have entered the industrialization stage.

Shanghai Automotive stated that joint development is beneficial to both parties sharing their accumulated technical experience and market experience in the development of new energy vehicles, accelerating the pace of industrialization of new generation electric vehicles and reducing research and development costs.

Shanghai Automobile President Chen Hong told the "First Financial Daily" that both parties will use the Pan-Asian Technology Center as a global R&D base to fully share their respective development experiences and jointly develop a new generation of electric vehicle platforms. In the next few years, SAIC and GM will accelerate the industrialization of new-generation electric vehicles on the basis of the completion of platform architecture development and timely launch different brands of electric vehicles.

Shanghai Automotive stakeholders also stated that in the development of a new generation of vehicles, Shanghai Automotive and General Motors plan to expand cooperation in power molding spectrum by sharing product platform technologies, helping both global models reduce product development costs and improve fuel economy. On this basis, the two parties will jointly cultivate a group of local product technology development personnel, enhance the core capabilities of domestic automotive R&D, and seize new opportunities for the development of new energy vehicles.