SAIC on a buying spree, takes up 50% of Shanghai Diesel Co

SAIC is clearly not content with its purchase of Nanjing Automobile Co, SAIC has gone one step further and purchased 50.32% of Shanghai Diesel Engine Co for an amazing 127 million USD (923.42 million yuan) Shanghai Electric Group (yes, these names do confuse us) sold their 50.32% share of Shanghai Diesel Co to SAIC for unknown reasons. SAICs reasons for buying Shanghai Diesel Co remain unclear, but we believe that SAIC is aiming to get into the commercial vehicle sector, where diesel engines

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