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In 2012 SAIC was ordered to pay $500 million to the City of New York for overbilling the city over a period of seven years on the CityTime contract. [15] [16] In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract.
SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai.Founded in 1955, it is currently the largest of the "Big Four" state-owned car manufacturers of China, namely: SAIC Motor, FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with car sales of 5.37 million, 3.50 million, 3.28 ...
In 2002, the joint venture SAIC-GM-Wuling was formed, with SAIC taking 50.1% of the shares, GM 34%, and Wuling Group (later became Guangxi Auto) 15.9%. Wuling transferred the production of microvans and small trucks to the new company. Since at least 2008, GM sought to increase its ownership achieving this aim c. 2011.
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