SAIC to sell MG-series sedans in EU by year's end

SHANGHAI (Reuters) - SAIC Motor Corp 600104.SS, China's biggest automaker, plans to start manufacturing its self-developed MG-series sedan at its U.K. plant and sell the sedans across the European Union by the end of the year, its chairman said on Monday.

“The idea is to take advantage of the existing MG sales network in the European Union as well as the cost advantage in China,” Hu Maoyuan told Reuters on the sidelines of Shanghai’s annual People’s Political Consultative Conference.

SAIC became the owner of MG Rover’s 10,000-unit Longbridge plant in Birmingham, central England, after a merger with its much smaller peer, Nanjing Automobile Group, in late 2007.

It launched its first self-developed car, the Roewe 750, in March of that year. SAIC is also the manufacturing partner of General Motors GM.UL and Volkswagon VOWG.DE.

SAIC president Chen Hong said in November that the company planned to begin manufacturing its self-developed MG 6 saloon car, based on acquired technology, in its UK plant at the end of this year.

Reporting by Fang Yan and Jason Subler; Editing by Ken Wills