CP, SAIC to make MG cars in Thailand
- Published: 13 Dec 2012 at 16.00
- Online news:
CP Group and the Shanghai Automotive Industry Corp (SAIC) will jointly build well-known British-brand MG cars in Thailand for both domestic sale and export, Noppadol Chearavanont of CP Group said on Thursday.
SAIC is the largest car-maker in China and 7th largest in the world. CP's joint venture with the Chinese company would help Thailand become the Detroit of Asia, he said.
Mr Noppadol, chairman of CP Group’s Automotive Industry Group (China), said SAIC would hold a 51% stake in the Thai-Chinese car firm, and CP Group the remaining 49% of shares.
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