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SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the "Big Four" state-owned car manufacturers of China ahead of FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with sales of 5.02 million vehicles in 2023.
The company traces its origins to the early years of the Chinese automobile industry in the 1940s, and SAIC was one of the few carmakers in Maoist China, making the Shanghai SH760. Currently, it participates in the oldest surviving sino-foreign automotive joint venture with Volkswagen (SAIC-Volkswagen) since 1984, and in addition operates a joint venture with General Motors (SAIC-GM) since 1998. It also produces and sells passenger vehicles under its own branding, such as IM Motors, Roewe, MG, Rising Auto and Maxus/LDV. It is also the largest shareholder of SAIC-GM-Wuling (SGMW), a joint venture selling Wuling and Baojun branded vehicles. In 2021, SAIC self-owned brands contributes 52% of SAIC's sales.
The company ranked 84th on the Fortune Global 500 list in 2023. Including SGMW, it was also the third-largest plug-in electric vehicle (battery electric and plug-in hybrid) company and second-largest battery electric vehicle manufacturer in the world, with 10.5% and 13% global market share respectively in 2021.
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The company traces its origins to the early years of the Chinese automobile industry in the 1940s, and SAIC was one of the few carmakers in Maoist China, making the Shanghai SH760. Currently, it participates in the oldest surviving sino-foreign automotive joint venture with Volkswagen (SAIC-Volkswagen) since 1984, and in addition operates a joint venture with General Motors (SAIC-GM) since 1998. It also produces and sells passenger vehicles under its own branding, such as IM Motors, Roewe, MG, Rising Auto and Maxus/LDV. It is also the largest shareholder of SAIC-GM-Wuling (SGMW), a joint venture selling Wuling and Baojun branded vehicles. In 2021, SAIC self-owned brands contributes 52% of SAIC's sales.
The company ranked 84th on the Fortune Global 500 list in 2023. Including SGMW, it was also the third-largest plug-in electric vehicle (battery electric and plug-in hybrid) company and second-largest battery electric vehicle manufacturer in the world, with 10.5% and 13% global market share respectively in 2021.
View More On Wikipedia.org