Traton's Brazil unit partners with China's SAIC to develop light commercial vehicle

SAO PAULO, Sept 3 (Reuters) - Volkswagen Caminhoes e Onibus (VWCO), a Brazilian subsidiary of Volkswagen's trucking unit Traton, announced on Thursday a partnership with China's SAIC Motor to develop a new family of light commercial vehicles.

• The jointly developed vehicle will be unveiled in November, VWCO Chief Executive Roberto Cortes said.

• The truck and bus manufacturer does not currently operate in the light commercial vehicle segment, one of the largest of Brazil's auto market.

• The vehicle will initially be produced in China and imported fully built into Brazil and Argentina, Cortes said, adding the firm plans to gradually increase local content and production in South America over time.

• "Full assembly will initially take place in China so we can enter the market quickly," he told reporters.

• VWCO's investment in the move to total 300 million reais ($58.86 million).

($1 = 5.0966 reais)

(Reporting by Alberto Alerigi Jr.; Writing by Gabriel Araujo; Editing by Nick Zieminski)