China’s largest state-owned car manufacturer, SAIC Motor Corp., is changing its leadership amid lackluster domestic growth and as it grapples with the transition to production in China’s highly-competitive new energy vehicles segment, reports Caixin.
Wang Xiaoqiu, 59, president of SAIC, is set to become chairman of the Shanghai-based group, according to a Friday announcement by the municipal government on its WeChat account. Wang succeeds Chen Hong, who is retiring after holding the position since 2014, public information shows. Jia Jianxu, currently a vice president, is expected to fill the vacancy left by Wang, according to the announcement. The 46-year-old’s track record also included a stint at the group’s divisions in Europe, according to his public profile.
SAIC has been able to maintain its leading position largely due to its two major joint ventures (JVs) with Volkswagen AG and General Motors Co. The two JVs have long led the sales charts for domestic passenger cars.