SAIC Motor takes fast track to develop as high-tech company
SAIC Motor, the largest automobile manufacturer in China, is fast getting into gear to develop as a high-technology company, after having generated 742.13 billion yuan ($113.41 billion) in operating revenue last year, according to its annual report which was recently published.
In 2020, SAIC Motor sold 5.6 million vehicles, a year-on-year decline of 10.2 percent. However, its sales saw a 7.6 percent year-on-year rebound in the second half of the year.
Moreover, the year-on-year growth of SAIC Motor's vehicle sales climbed quarter by quarter throughout the year as the manufacturer began shaking off the negative impact of the novel coronavirus on auto markets.
Sales of new energy vehicles or NEVs by SAIC Motor surged 73.4 percent in 2020 to 320,000 units, leaping to top spot in the country and third place in the world while it exported 390,000 vehicles, a year-on-year increase of 11.3 percent and leading it to retain top spot in China for the sector for five years in a row.
In 2021, SAIC Motor is projected to achieve total sales of 6.17 million vehicles, a yearly increase of 10.2 percent, and it will also promote ride-hailing services and solutions.
The flagship outlet for MG, an auto brand of SAIC Motor, opens in Kuwait.
The automaker has reportedly been improving its core business while nurturing new growth drivers in recent years.
The company has stepped up efforts to promote the industrialization of intelligent-connected vehicle, or ICV technology, and the development of core industry supply chains involving batteries, electric motors and electronic control modules, as well moved to launch more high-tech products.
The auto manufacturer has been improving its technological capacity in data-determined experiences and software-defined vehicles. It has done so by exploring emerging technologies, including software development, big data, artificial intelligence, cloud computing and cyber security.
In addition, SAIC Motor has also promoted electrification, intelligent and connected, sharing and globalization in recent years, laying a solid foundation for its sustainable development.