Shanghai Automotive Industry Corp (SAIC) will invest US$1.14 billion (RMB8 billion) in Nanjing Automotive Group Corp in several phases over the coming five years, the 21st Century Business Herald reported. SAIC effectively took over its smaller rival through a merger late last year,   appointing senior SAIC managers to lead the division. The first phase of the planned investment will be a US$64.18 million (RMB450 million) injection into Nanjing Auto's MG division, which is housed at the Nanjing ...