Last week Hu Maoyuan, chairman of SAIC, raised speculation that China’s most powerful domestic carmaker might take a stake in General Motors’ upcoming initial public offering.
Mr Maoyuan said that SAIC “will watch GM’s IPO closely, and think carefully if we should purchase the shares or not”.
The notion that the “new GM” might attract prominent foreign shareholders such as SAIC should come as no surprise for a company that sold 72 per cent of its vehicles outside the US last year, and 39 per cent in emerging markets.
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