SHANGHAI — Shanghai Automotive Industry Group Corp. (SAIC) acquires a 20% stake in Anhui Chery Automotive Co. Ltd. based in Anhui province. The new company, renamed SAIC-Chery Automotive Co. Ltd., will produce two types of Chery models. Anhui Chery produced its first Chery-brand car at the end of 1999. The car, equipped with a 5-speed manual transmission, has a top speed of 168 km/h and starts at about RMB88,000 (US$10,600). SAIC-Chery reportedly plans to produce hatchback cars, pickups ...
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