SAIC Motor ranks 84th on Fortune Global 500 list

SAIC Motor, China's largest auto maker, was ranked 84th on the Fortune Global 500 list in 2023 with its operating revenue of $110.6 billion in 2022, and it is still in a leading position among Chinese automakers, and has ranked among the top 10 automotive companies in the world.

SAIC Motor first appeared on the list in 2004, and has stayed among the top 100 companies on the list for 10 years in a row since 2014.

In 2022, SAIC Motor sold more than 5.3 million vehicles, the most in China for the 17th consecutive year. It was also China’s first automaker to sell one million new energy vehicles (NEVs) and achieve one million sales on overseas markets.

In the first half of 2023, its self-owned brand MG sold 115,000 vehicles in Europe, a year-on-year increase of 143 percent, and its NEVs accounted for over 50 percent of its total sales in the January-June period.

From January to July, SAIC Motor sold 463,000 NEVs, ranking second among Chinese automakers. It also sold 630,000 vehicles overseas during the period, a year-on-year increase of 31.6 percent.

Facing the profound changes in the automobile industry, SAIC Motor is currently pursuing the goal of creating a safe, efficient, convenient and comfortable mobility experience that is fun for users. It has also been stepping up efforts to promote transformation and innovation, and bolster its development of NEVs and intelligent connected vehicles (ICVs).

In April, SAIC Motor announced an aim of 3.5 million units of NEVs annually by 2025, 2.5 times the figure in 2022. The sales of its self-owned brand NEVs are expected to account for 70 percent of its total NEV sales.

SAIC Motor has already launched the new MSP platform, which was designed solely for pure electric cars. In the future, SAIC will focus on technological innovation to offer more high-quality products to consumers, and provide users with the smartest, safest and most comfortable driving experience.

In the second half of this year, the company’s 800V silicon carbide electric axle will enter mass production. Starting from 2024, SAIC’s solid-state batteries, which have a very high safety performance and lower costs, will be mass-produced. In 2024, advanced VMC technology will be widely used in SAIC’s self-owned vehicle models, allowing drivers to easily handle complex road conditions. In 2025, the industry-leading “Centralized Computing + Regional Control” Galaxy Full Stack 3.0 intelligent vehicle solution will be fully implemented, giving vehicles strong self-learning, self-evolving and self-growing capabilities.