GM, SAIC say to share engine development costs
SHANGHAI/BEIJING |
SHANGHAI/BEIJING (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 liters, would hit "right at the heart of the global vehicle market."
(Writing by Chang-Ran Kim; Editing by Michael Watson)
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