SAIC Motor ranked 93rd on the 2024 Global 500 list announced by Fortune magazine on Aug 5 (Beijing time), with a consolidated revenue of $105.2 billion in 2023, leading among the Chinese automotive companies listed. SAIC Motor first entered the Global 500 list in 2004, made it to the top 100 in 2014, and has been in the global top 100 for the past 11 years. As a representative of Chinese automotive companies, it has been among the top ten globally for the past 12 years.

Innovation drives industry leadership

In 2023, SAIC Motor accelerated its innovation transformation, with a particular focus on independent brands, new energy, overseas markets, and other innovative businesses. The company sold 5.021 million vehicles throughout the year, which has allowed it to maintain its position as the domestic leader. It is gratifying to note that 2.775 million of these vehicles were independent brand vehicles, accounting for over 55 percent of the company's total sales. Furthermore, the company is delighted to share that it sold 1.123 million new energy vehicles, which has allowed it to stay ahead in global new energy vehicle sales. It is also encouraging to report that the company sold 1.208 million vehicles in overseas market, maintaining the top spot in the domestic industry for vehicle exports for the past eight years. In the first half of this year, SAIC Motor has continued to enjoy a leading position in vehicle sales. Its independent brands deliveries reached 1.264 million units, accounting for 59 percent of the company's sales; new energy vehicle deliveries reached 522,000 units, a 29.5 percent year-on-year increase; and overseas market deliveries reached 554,000 units, a 13.9 percent year-on-year increase, ranking first among Chinese automotive companies.

Strong technical bases empower growth

Over the past decade, SAIC Motor has invested nearly $21 billion in research and development in the core area of intelligent electric technology. This has resulted in the acquisition of over 26,000 valid patents and the successfully launch of the "Seven Major Technical Pillars", which are at the global cutting-edge in terms of technology. In May of this year, SAIC Motor officially announced at the New Energy Technology Conference that, thanks to the significant breakthroughs in innovative technologies such as efficient powertrains, solid-state batteries, full-stack software architecture, new electronic architecture, and autonomous driving, the "Seven Major Technical Pillars" have now transitioned to the 2.0 era.

Over the next two years, the comprehensive implementation of the "Seven Major Technical Pillars 2.0" will empower the launch of nearly 30 new models for SAIC Motor's independent and joint venture brands.

The DMH Super Hybrid System, with software algorithms at its core, matches hybrid-specific efficient engines, transmissions, long-range batteries, and other specialized hardware. The super hybrid system enables vehicles to have ample power performance, excellent fuel economy, and ultra-long-range capabilities. Independent brand DMH models such as Roewe D7, Roewe D5, and MG HS are gradually entering the market's growth phase, with joint venture brands also set to introduce new vehicles using DMH technology.

Applying HEV hybrid technology, MG3 HEV has launched in Europe. This HEV technology offers low fuel consumption and emissions, saving one liter of fuel per 100 kilometers. This is one of SAIC Motor's responses to the EU anti-subsidy tariffs.

Equipped with the “Guang Nian” Solid-State Battery, the IM L6 will be officially delivered to users in October. It boasts an energy density exceeding 300Wh/kg and an endurance mileage of over 1,000 kilometers. The Solid-state batteries with an energy density exceeding 400Wh/kg and improved safety and low-temperature characteristics will begin production in less than 500 days. It is anticipated that energy density will subsequently increase further still, to 500Wh/kg.

With the mass production of autonomous driving, IM City NOA, which represents the highest level of intelligent driving in China, has successfully launched a "national map", creating a high-end intelligent driving experience that can be used nationwide. With the release of China's first batch of intelligent connected vehicle access and on-road pilot lists, SAIC Motor has become the only automaker to obtain two licenses, and it is planning to achieve small-scale production and commercial ecological operations of L3-level (conditionally autonomous driving) technology in the near future.

Joint ventures open a new chapter in cooperation

On May 20, SAIC Motor and Audi officially announced their joint development of three high-end intelligent electric vehicles and the Advanced Digitized Platform. On June 27, SAIC Motor entered into a technology cooperation agreement with Volkswagen, with the intention of jointly developing three plug-in hybrid models and two pure electric models. As the global automotive industry moves towards a new era of electrification and intelligence, and with the growing presence of new energy vehicles in China, joint ventures in the Chinese automotive industry have evolved from a focus on importing technology to a collaborative approach to innovation. By leveraging top global intelligent electric technology, SAIC Motor will collaborate with foreign partners with the goal of achieving "technological empowerment" and supporting joint ventures in creating new core capabilities and expanding new business opportunities.