JTA NEWS
22 November 2017 - 4 Kislev 5778 - ד' כסלו ה' אלפים תשע"ח
JTA NEWS :
SAIC to set up R&D centre in Israel E-mail

Shanghai Automotive Industry Corporation (SAIC) will establish a Research & Development (R&D) centre in Israel for advanced auto technologies, the company announced recently in China.

The company said the centre would focus on development and venture capital investment in “electrical propulsion, data networks, car sharing, and smart automated propulsion”. According to Globes, the centre is part of a global plan in which the company is expanding its R&D worldwide. It recently opened a similar centre in Silicon Valley, US.

The company’s advance team is already in Israel, and its branch there is slated to expand to 50 employees. It is believed that SAIC’s business in Israel will be located in the new management centre of the Lubinski group in Meuyan Sorek. Lubinski has been the official importer for SAIC in recent years, and has sold several thousand units of the brand to date.

SAIC, a Fortune 100 company that is one of the four largest Chinese auto manufacturers, is a Chinese Government company and sells nearly five million vehicles a year.

The auto industry believes that this is just the spearhead of R&D and venture-capital investment by Chinese auto manufacturers in Israeli auto-tech. Early in March, a new auto-tech entrepreneurship and innovation centre owned by Chinese company Geely, with Volvo as a partner, was inaugurated in Israel.

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