Shanghai Auto Heads to Europe in 2009 With Roewe 550

SHANGHAI, China -- Shanghai Auto's SAIC Motor is preparing to market the new Roewe 550 sedan in Europe and other global markets beginning in early 2009.

SAIC still has no specific plans for exports to North America, where the company maintains a purchasing liaison office but lacks a sales and distribution network.

In Europe, the Chinese auto giant is planning to distribute some vehicles through existing Ssangyong dealers. SAIC owns a controlling interest in the small Korean automaker. It is also actively seeking other European distribution partners.

SAIC unveiled the Roewe 550 in April at the 2008 Beijing Auto Show. It is the first vehicle to be released following the company's acquisition of struggling Nanjing Auto (NAC) and, along with it, the rights to use the MG brand name.

The Roewe 550, like its larger sibling, the 750, is based heavily on the old Rover 75 sedan, with all-new sheet metal and updated mechanicals. A hatchback version is planned for 2009.

SAIC reportedly has held talks with Karmann about the possibility of assembling the Roewe 550 in Europe. It also now owns and operates the former MG Rover plant in Longbridge, England, where a revived version of the MG TF Roadster is slated to begin production in August.

A companion model to the Roewe 550 sedan, to be called the MG6, is scheduled to be introduced in 2009. Both models are designed to sell in export markets, priced at about $18,000.

[Source : Inside Line]

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