GM, SAIC say to share engine development costs

SHANGHAI/BEIJING Aug 18 (Reuters) - General Motors Co [GM.UL] and its Chinese partner SAIC Motor Corp (600104.SS) said on Wednesday they would share development costs of new engines for small cars and a transmission system with a view to selling vehicles with the technology globally in future.

GM, which is expected to soon file for an initial public offering, said in a statement the new small engine, in displacements from 1.0 to 1.5 litres, would hit "right at the heart of the global vehicle market". (Writing by Chang-Ran Kim; Editing by Michael Watson)