SAIC-GM-Wuling Automobile (, abbreviated as SGMW) is a joint venture between SAIC Motor, General Motors, and Liuzhou Wuling Motors Co Ltd. Based in Liuzhou, Guangxi Zhuang Autonomous Region, in southwestern China, it makes commercial and consumer vehicles sold in China under the Wuling and Baojun marques, respectively. A major mass-volume producer in the Chinese interior, in 2011 SGMW sold 1,286,000 vehicles in China, 1,445,000 in 2012, and aims to sell 2 million cars annually. Its offerings range in price from US$5,000 to US$10,000. SGMW is one of the largest manufacturers of microvans in China. Known as xiao mianbao che (小面包车), or "small bread box cars," these pint-size commercial vehicles are no larger than a compact car and have sold well in the poorer interior. One of its popular microvans is the Wuling Sunshine. Selling more than 450,000 units per year, SGMW has claimed no one model outsells it in China. Both SGMW and Liuzhou Wuling Automobile Industry Co. Ltd. use the Wuling brand name and the red, five-diamond "W" logo. History While Wuling microvans have been manufactured since 1982, in 1986 Wuling's predecessor company, Liuzhou Automotive Industry Corporation, reached an agreement with Mitsubishi Motors to assemble the L100 type Mitsubishi Minicab. Originally, 90% of parts were imported, but gradually local parts content increased. This small van was sold as the Liuzhou Wuling LZ 110. In 2002, the joint venture SAIC-GM-Wuling was formed, with SAIC taking 50.1% of the shares, GM 34%, and Wuling Group 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. Its stake rose to 44%—leaving Wuling with 5.9%. In 2010, SGMW created a passenger car brand to compete against indigenous products, Baojun. The company sold a passenger vehicle, the Chevy Spark / Daewoo Matiz M150, as the Baojun Lechi from 2007 to 2012, however. In late 2012, ten years after the formation of the joint-venture, SGMW opened a new factory for the production of Baojun passenger cars in Liuzhou, Guangxi Zhuang Autonomous Region, ready to produce 400,000 units per year. A factory with capacity for the same number of power trains is also being built. Etsong acquisition Best known for its tiny offerings, in 2005 SGMW acquired diminutive Etsong Vehicle Manufacturing, a small-scale manufacturing concern based in Qingdao, China. The factory was originally set up in 1997