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China's SAIC and GAC seek safety in numbers as car sales fall

Automakers form partnership spanning connected cars and services

Guangzhou Automobile Group's vehicle sales fell 4% on the year for the first 11 months of 2019. (Photo by Takashi Kawakami)

GUANGZHOU -- Chinese carmakers SAIC Motor and Guangzhou Automobile Group, or GAC, have announced a wide-ranging partnership to weather a slumping domestic market.

The five-year comprehensive strategic tie-up will include auto financing and insurance, as well as developing technologies for new-energy vehicles and connected cars.

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