SAIC: Investing CNY 300 billion in smart EVs, transforming into a user-oriented high-tech company

Aiming to hit carbon emissions peak by 2025 and sell 2.7 million NEVs

2022/01/13

Summary

上汽集团销量

  According to sales volume data released by SAIC Motor Corporation Limited (hereinafter referred to as the "SAIC Group"), its sales volume has been on a downward trend in recent years, but the domestic and overseas sales of NEVs has increased significantly. In 2020, the company sold 5.6 million finished vehicles, of which 320,000 were NEVs and 390,000 exports, making it the top producer of both NEVs and finished vehicles for export among Chinese automakers. In the January-November period of 2021, sales volume decreased by 1.1% year-over-year (y/y) to 4.803 million units, of which NEV sales volumes increased by 155.5% y/y to 638,000 units. Overseas sales volumes increased 87.4% y/y to 603,000 units.

  The SAIC Group is the largest listed automobile manufacturer in China in terms of production and sales, and its subsidiaries include foreign equity-funded joint ventures such as SAIC Volkswagen Automotive Co., Ltd. (“SAIC VW”), SAIC General Motors Corporation Limited ("SAIC-GM"), SAIC Motor Corporation Limited Passenger Vehicle Branch ("SAIC Passenger Vehicle"), which has its own brands "Roewe" and "MG", and SAIC GM Wuling Automobile Co., Ltd. ("SAIC-GM-Wuling"), which leads the NEV passenger car market with its sales volume of the Wuling Hongguang MINIEV, and the newly established IM Motors Technology Co., Ltd. (“IM Motors”). In recent years, the company has been growing several CASE (connected, shared, autonomous, electric)-related subsidiaries, including Shanghai Hydrogen Propulsion Technology Co., Ltd. (SHPT), which develops fuel cells, and Z-ONE Technology Co., Ltd. (Z-ONE), which is engaged in the research and development of software. This report covers the key trends of the independent/own brands of the SAIC Group and its subsidiaries, mainly in the NEV and intelligent connected sectors. There will be no major coverage of the trends among the foreign equity brands under SAIC VW and SAIC-GM.

  During its 14th Five-Year Plan period (2021-2025), the SAIC Group will invest CNY 300 billion in innovative areas such as smart EVs, transform itself into a user-oriented high-tech company, and accelerate its growth into a CNY 1 trillion automotive industry group with global competitiveness and international brand influence. With regard to NEVs, the SAIC Group aims to achieve the peak out of carbon emissions by 2025, and to sell more than 2.7 million NEVs globally and increase the NEV ratio of commercial vehicle sales to 38% by 2025. With a focus on commercial vehicles, the company also plans to launch at least 10 models of fuel cell vehicles by 2025, creating a production and sales scale of 10,000 units, and a market share of over 10%. In addition, the company aims to achieve overseas sales of 1.5 million units, or approximately 15% of the entire group's sales, during the period of the 14th Five-Year Plan.

 

Related Reports:
China market Q3 2021 (1): FAW, Dongfeng, Geely and Others Announce Five-Year Plans (Nov. 2021)
Wuling "Hong Guang MINI EV", a low-cost EV priced at approximately USD 4,000 (Jul. 2021)
Chinese market Q2 2021 (1) : Activities of China's state- and privately-owned OEMs (Jul. 2021)
Foreign investments of Chinese automakers : SAIC Motor and Great Wall Motor (Jun. 2021)
Chinese market Q1 2021: NEV sales exceed 500,000 units, Chinese OEMs accelerate CASE (May 2021)
Auto Shanghai 2021: SAIC, Dongfeng, FAW (May 2021)
SAIC：Aims to be a comprehensive provider, including mobility services, by 2025 (Jul. 2018)

 

This report is for paid members only. Remaining 6 chapters remaining.
Free membership registration allows you to read the rest of the article for a limited time.

Click here for a free trial.