SAIC Motor is the largest auto company listed on China's A-share market (Stock Code: 600104). As a leading auto maker in China, SAIC Motor is striving to lead the industry's development trends, accelerate innovation and transformation, and evolve from a traditional manufacturing enterprise to a comprehensive provider of auto products and mobility services.
Currently, SAIC Motor's main businesses cover the R&D, production and sales of both passenger and commercial vehicles. Targeting the carbon peaking and carbon neutrality goals, and the new trends in the automotive industry, SAIC Motor has beefed up its efforts to bolster the development of NEVs and ICVs. SAIC Motor is also engaged in the R&D, production, sales of auto parts, (including power drive systems, chassis, interior and exterior trims, and the core components and smart product systems of NEVs such as batteries, electric drives and power electronics), auto-related services such as logistics, e-commerce, energy-saving and charging technology, and mobility services, auto-related finance, insurance and investment, overseas business and international trade, big data and artificial intelligence.
The main vehicle companies under SAIC Motor include IM MOTORS, SAIC Passenger Vehicle Branch, Rising Auto, SAIC Volkswagen, SAIC Audi, SAIC General Motors, SAIC-GM-Wuling, SAIC Maxus, NAVECO, SAIC LDT and Sunwin.
In 2023, facing challenges such as unprecedentedly fierce price competition and the accelerated evolution of industry transformation, SAIC Motor firmly maintained its focus on innovative transformation, and actively utilized the market recovery momentum to seize structural growth opportunities. In doing so, the group's vehicle sales reached more than 5 million units in total, maintaining the top position in the domestic industry for the 18th year in a row. Following its double million units sales in 2022, the group's NEV sales and overseas sales hit new historic highs in 2023, reaching 1.1 million units and 1.2 million units, respectively. In August 2023, SAIC Motor was ranked 84th on the Fortune Global 500 list with a revenue of $110.6 billion from its 2022 consolidated financial statements, marking its 10th consecutive year among the top 100.
Looking ahead, SAIC Motor will keep pace with technological progress, market evolution, and industry changes while accelerating its strategy in the fields of electrification, intelligent connectivity, sharing, and globalization. It will not only strive to improve its performance, but also build an innovation chain to upgrade its business, so as to come out on top in the restructuring global automotive industry. The company also plans to accelerate its business transformation and upgrading, and make great strides towards becoming a world-class auto company with international competitiveness and a strong brand influence.
