Chinese automaker SAIC has concluded its deal to assume control over its joint venture with GM [via the WSJ [sub]], and to keep its momentum going, it will be releasing its first hybrid vehicle this year. Reuters reports that the Roewe 750 Hybrid will be released this year, making SAIC the second Chinese firm to offer a hybrid drivetrain after BYD. SAIC may even deliver …

According to favstocks.com, the firm invested some $300m into its hybrid development program since 2008, to which leblogauto.com adds that the system was developed in partnership with Britain’s Ricardo and uses Johnson Controls lithium-ion batteries. According to Reuters, a plug-in version is planned for 2012. SAIC is also said to be developing pure electric vehicles in partnership with battery supplier A123 Systems, as it tries to capture some of the green-vehicle hype that attracted media attention and a Warren Buffett investment to BYD. And with BYD dropping plans to sell its E6 EV in order to focus again on traditional gas-powered cars, SAIC could just leverage its partnerships to surpass BYD as China’s leading exponent of alt-energy drivetrains.