SAIC Motor production line. [Photo/VCG]
China’s automotive giant SAIC Motor reported a strong finish to 2024, with December marking the sixth consecutive month of sales growth. The company delivered 506,000 vehicles to customers in December, contributing to a total of 4.64 million units delivered for the entire year.
While wholesale figures reached 4.01 million vehicles for 2024, the company highlighted a 60 percent contribution from its own brands.
SAIC saw record-breaking sales of new energy vehicles in 2024, reaching 1.23 million units, a 9.9 percent increase from the previous year. The growth was largely driven by the performance of its premium brand, IM Motors, which saw sales surge by 71.2 percent to 66,000 units.
Despite facing challenges in overseas markets, particularly within the EU, SAIC managed to deliver 1.08 million vehicles in the overseas markets, a 2.6 percent increase year-on-year. This success can be attributed to the strategic focus on hybrid electric vehicles, particularly within the MG brand, which saw sales surpass 24,000 units in Europe.
SAIC attributes its positive momentum to a strategic focus on bolstering its own brands and accelerating technological innovation.
The company has invested nearly 150 billion yuan ($20.52 billion) in the research and development of core smart and electric vehicle technologies over the past decade, securing over 26,000 valid patents and culminating in the creation of seven world-class technology platforms. These platforms encompass three vehicle platforms for pure electric, hybrid, and hydrogen-powered vehicles, along with advancements in batteries, an electric drive system, an ultra-hybrid system, and a full-stack intelligent vehicle solution.
SAIC unveiled the second iteration of these technology platforms in 2024, with innovations such as solid-state batteries, a digital intelligent chassis, and a centralized electronic architecture nearing implementation across its brand portfolio.
Looking ahead to 2025, SAIC aims to accelerate the deployment of cutting-edge technologies, including advanced autonomous driving solutions and solid-state batteries, across both its own brands and joint venture models.
Source: Shanghai Observer
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