SAIC Motor sets out plan for next 5 years

SAIC Motor, China’s biggest automaker, aims to be one of the world's top five automobile companies during the 14th Five-Year Plan (2021-2025) and become a trillion-level group with global industrial competitiveness and brand influence, it announced on Friday.

It plans to roll out nearly 100 new-energy vehicle models, including 60 models under its self-owned brands, over the next five years.

Last year, SAIC Motor sold 5.6 million vehicles, a decline of 10.2 percent amid the COVID-19 pandemic, but still top in terms of sales in China for the 15th consecutive year.

Of the total, 2.6 million were self-owned brands, or 46.4 percent, a new record. Sales of new-energy vehicles reached 320,000 vehicles, up 77.8 percent on the year, and 390,000 vehicles were sold overseas, a rise of 11.3 percent with 60 percent of them new-energy vehicles, also first among Chinese automakers.

In December last year, monthly sales rose 7 percent year on year to 746,607 units, an increase for the seventh consecutive month.

During the 13th Five-Year Plan period (2016-2020), the automaker invested over 60 billion yuan (US$9.27 billion) in research and development with a team of nearly 8,000 employees. 

SAIC Motor is focusing on the research and development of electric, plug-in hybrid and fuel-cell vehicles. It has also mastered the electric car of battery, electric drive and electric control unit technologies vital for an electric car, it said.

The company entered more than 60 countries and regions last year, and nearly 810 overseas marketing and service outlets were established. After overseas production bases in India, Thailand and Indonesia, its Pakistan plant is set to start production this year.

Zhiji Motor, a high-end smart electric carmaker, was launched by SAIC Motor, the Pudong New Area and Alibaba Group in Shanghai in November.

Zhang Xiaofeng, an independent market analyst, said: ”The whole auto industry has encountered difficulties in 2020 as the COVID-19 pandemic has brought challenges to all companies. SAIC Motor's performance is a reflection that Chinese automakers can do a good job in both domestic and overseas market. I am optimistic about the sales performance of SAIC Motor in 2021."