SAIC: 3.5M NEV Sales by 2025, Launching 14 New Smart EV Models Overseas
Promoting AI strategy with its IM Motors subsidiary, installing semi-solid-state batteries by 2024
2024/03/25
- Summary
- Electrification: Selling 3.5 million NEVs in 2025; semi-solid-state batteries to be installed in 2024
- Intelligent technologies: Accelerate implementation of automated driving commercialization, promote IM Motors’ AI for Mobility strategy
- Internationalization: Targeting sales of over 1.2 million units outside China in 2023 and global MG sales of 1 million units in 2024
- SAIC Group sales volume in China (factory shipment volume)
- GlobalData Sales Forecast: SAIC Group’s light vehicle sales in 2027 will be 3.02 million units
Summary
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According to MarkLines data, although SAIC Motor Corporation Limited (SAIC Group)'s 2023 sales volume (factory shipments in China) fell 5.4% year-over-year (y/y) to 4,912,000 units, it is the top Chinese automaker. Of this volume, 2,624,000 vehicles were SAIC Groups’s own-brands, 2,288,000 were foreign brands, and 613,000 were commercial vehicles. Passenger cars accounted for 4,299,000 units and 1,065,000 units were NEV passenger cars.
In electrification, the company announced a three-year action plan for NEV (New Energy Vehicles: battery electric vehicles, plug-in hybrids, and fuel cell vehicles) business development in April 2023. With a target of selling 3.5 million NEVs by 2025, SAIC Group will aggressively develop core technologies such as solid-state batteries, fuel cells, third-generation semiconductors, and high-performance electric drive systems. In addition, semi-solid-state batteries will be mass-produced and installed in vehicles in 2024. The foreign joint ventures SAIC VW and SAIC GM will focus on partnerships and strengthening R&D for the Chinese market and accelerate the shift to electrification.
With regard to intelligent technologies, the focus will be on in-vehicle chips, intelligent driving, and smart mobility ecosystems. The company will promote the commercialization of autonomous driving through the Robotaxi and intelligent heavy-duty truck projects. Over the next three years, the company will acquire vehicle motion control (VMC) technology and implement the "Galaxy” Smart Car Full Stack Solution 3.0 from Z-ONE Technology Co., Ltd., a Group subsidiary. Note that IM Motors, a high-end smart EV company jointly established by SAIC Group, Alibaba, and Shanghai Zhangjiang Hi-Tech, is promoting an AI for Mobility strategy and has already obtained license plates for testing automated driving (Level-3) on highways in Shanghai.
In terms of globalization, sales volume outside China was approximately 1.21 million units in 2023. It has ranked first among Chinese automakers for eight consecutive years. For the fifth consecutive year, the MG brand ranked first in sales volume outside China for a single Chinese brand. The company aims to achieve million-unit global sales in 2024. SAIC Group has already begun site selection for a manufacturing site for finished vehicles in Europe, and plans to launch 14 new intelligent EV models outside China by 2025.
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