General Motors plans to develop a small, fuel-efficient engine and advanced transmission with Chinese partner SAIC Motor Corp.

The engineering and development work will be carried out by engineers from the two firms in Detroit, and at the Pan Asia Technical Automotive Center, a joint venture between the companies in Shanghai, GM said in a statement.

"The co-development of these new engines and transmissions builds on a strong history of innovation and collaboration between GM and SAIC Motor," GM Vice Chairman of Global Product Operations Tom Stephens said. "Together, we will continue to quickly provide our customers leading-edge technologies that improve vehicle fuel efficiency and deliver robust performance."

Stephens signed the agreement in Shanghai, along with SAIC President Chen Hong.

GM is aiming to produce more environmentally-friendly cars and to boost its presence in the Chinese auto market, which is now the world's largest.

Increase your money and finance knowledge from home

Investing in Real Estate

Learn the basics of investing in real estate.

View Course »

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Add a Comment

*0 / 3000 Character Maximum

1 Comment

Filter by:

The taxpayer's of the U.S. fund it, grants and taxbreaks to U.S companies and even Nissan. We design it, pay for it, they build it. The Chinese force companies to give them technology - insisted on engineerng centers in China - in order to market in their country. No doubt "North American Operations" paid for the China design center. Let's do the same thing, starting with the Prius to be built and enhanced here in th U.S. or you do not market it here. Why pick on China, Japan has done the same thing with our financial services and other technology products for decades. China has just adopted the Japanese economic model. Don't start with Japan's lost decade - their highest unemployment at that time was 5.5%, what's ours? We need to trade Larry Summers for one of China's economist - they are kicking our butts economically due to polyanna ideas from academics in the U.S.

August 18 2010 at 10:33 AM Report abuse +2 rate up rate down Reply