The Shanghai Automotive Industry Corp (SAIC) has announced that its Shanghai Automotive Co Ltd subsidiary has become the Korean Ssangyong Motor¡¯s main shareholder, having acquired the SAIC holding company¡¯s 51.33% holding in Ssangyong, on top of the equity it had acquired via transfer from another SAIC entity last year.

Shanghai Automotive now controls all SAIC¡¯s vehicle and component businesses, including Shanghai General Motors Co., Ltd.

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