Shangai Automotive Industry Corporation, General Motors and Wuling have launched a $100 million joint venture in Hong Kong. The primary aim of the new venture is to capitalise on the growing Asian markets and launch products catering to the needs of emerging markets. The latest model, a compact MPV, from SAIC-GM-Wuling, called the Hong Guang has now been launched in China and is priced there between Rs. 3.07 lakh and Rs. 4.17 lakh.
The compact engine model is sold with two petrol engines – 1.2L and 1.4L which have been lifted from Chevrolet’s engine line up that currently power the Chevy Beat and Chevrolet Aveo. The chassis has been adjusted by British company Lotus Engineering and lays emphasis on safety and comfort. Hong Guang comes with 5 manual gears, power steering and with 7 people seating capacity.
The model is expected in the Indian market by mid-2011 and will be possibly sold under the existing brand name Tavera from General Motors. “The Hong Guang addresses the growing need for a small, economical vehicle for business use and family travel,” said Kevin Wale, President and Managing Director of the GM China Group. The car is expected to be priced around Rs. 7 lakh in India and will be pitted against models like Mahindra Xylo and Toyota Innova
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