The Chinese automobile giant SAIC Motor (SHA:600104) is reshuffling its staff, including managers in its passenger vehicle division, Yical Global reported Thursday, citing an internal notice from President Jia Jianxu.

The revamp was effective on Feb. 12, impacting electric vehicle brands, such as MG, Rising Auto, Roewe, and various departments, including marketing, engineering and manufacturing, the report said.

The reshuffle is part of SAIC's Greater Passenger Vehicle Division project, which aims to boost cooperation between the company's five key businesses, the report said, citing an insider.

A senior executive of the company verified to the media outlet that the notice, which is circulating online, is true, the report said.

The company's shares dropped less than 3% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)