Chinese automaker SAIC Motor Corp., the local partner of both General Motors Corp. and Volkswagen AG, stated that it will launch its first own-brand car, the Roewe, on Oct 24, The Associated Press reported.

SAIC established SAIC Motor Manufacturing Co. has been established earlier this year to develop its own-brand cars using technology for two Rover models, the 25 and the 75, bought from Britain's MG Rover Group Ltd. in 2005

A report in Shanghai Daily said the company's first own-brand model sedan also would be dubbed the 750E, roughly meaning "glorious power." The company also has registered several other Chinese names, the report said.