General Motors is launching a new brand in China called Baojun (which means something like "treasured horse," per GM).
The brand is a JV with SAIC and Wuling Motors, and its cars will be built and sold in China. The brand is intended to fill a need for affordable passenger cars in China. The brand will be sold through SGMW's existing network.
The company, (SGMW comprises GM China, Shanghai Automotive Industry Corporation Group and Wuling Motors) was launched in 2002.
The venture, which currently makes Wuling brand mini-trucks and minivans and the Chevrolet Le Chi mini-car, last year had domestic sales of 1,061,213 units, becoming -- per the companies -- the first automaker in China to sell more than 1 million vehicles in a year.