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Siemens signs strategic cooperation on renewable energies in Russia

Siemens has signed a partnership agreement for cooperation in the renewable energy sector with the two Russian companies Rostechnologii and RusHydro. The three companies will establish the joint venture “wind energy” where Siemens will retain the majority stake. The planned joint venture is to set up production facilities for wind turbine components for the Russian market and will also be responsible for sales and service of Siemens wind turbines in Russia and other countries.
“This strategic partnership will put us out front on the highly-promising market for renewable energy in Russia”, states René Umlauft, CEO of the Renewable Energy Division of Siemens. Russia is planning to have a wind power capacity of approximately 5000 megawatts installed …

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SGMW’s Baojun Brand to Sell Passenger Cars in China SAIC-GM-Wuling Joint Venture getting ready for sales

Shanghai – SAIC-GM-Wuling (SGMW), GM’s mini-commercial vehicle joint venture with SAIC and Wuling Motors, announced today in Shanghai that it is launching the Baojun brand. The passenger cars of the new brand will be built and sold in China.
Baojun (which is the Chinese word for “treasured horse”) is being introduced to address the growing demand for affordable passenger cars in China. SGMW’s new passenger vehicle sales and distribution network will be built based on its existing network, incorporating new distributors and elements of the current structure.  SGMW will begin building the new network for passenger vehicles following the official launch of the Baojun brand.
The vehicle has been developed with help of GM and SAIC’s Pan …

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