2024 Fortune Global 500 released, SAIC continues to lead the Chinese auto list
2024-08-07
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Fortune magazine released the 2024 Fortune Global 500 list on August 5, Beijing time. SAIC Motor ranked 93rd on the list with a consolidated operating income of US$105.2 billion in 2023, continuing to lead the list among Chinese auto companies.
SAIC Motor was listed in the Fortune Global 500 for the first time in 2004 and in the top 100 for the first time in 2014. It has been in the top 100 for 11 consecutive years and, as a representative of Chinese auto companies, has been among the top ten in the global industry for 12 consecutive years.
Innovation drives the industry to lead. In 2023, SAIC will accelerate the promotion of innovation and transformation, and its innovative businesses such as independent brands, new energy, and overseas markets will be strong. The company will sell 5.021 million vehicles throughout the year, maintaining the first place in China; independent brand vehicle sales of 2.775 million vehicles, accounting for more than 55% of the company's sales; new energy vehicle sales of 1.123 million vehicles, ranking at the top of the global industry's new energy vehicle sales; overseas market sales of 1.208 million vehicles, maintaining the first place in the domestic vehicle export industry for 8 consecutive years. In the first half of this year, SAIC's vehicle sales continued to lead the industry. Among them, the terminal delivery volume of independent brands reached 1.264 million vehicles, accounting for 59% of the company's sales; the terminal delivery volume of new energy vehicles reached 522,000 vehicles, a year-on-year increase of 29.5%; the terminal delivery volume in overseas markets reached 554,000 vehicles, a year-on-year increase of 13.9%, ranking first among Chinese automakers.
The technical foundation is a powerful enabler. SAIC Motor has spent ten years honing its skills and invested nearly 150 billion yuan in the research and development of core intelligent electric technologies. It has obtained more than 26,000 valid patents and successfully launched the "seven major technical foundations" with internationally leading technical levels. In May of this year, SAIC officially announced at the "New Energy Technology Conference for the New Decade" that the "seven major technical foundations" have leapt into the 2.0 era, relying on the breakthroughs and applications of innovative technologies such as efficient powertrains, solid-state batteries, full-stack software architectures, new electronic architectures, and autonomous driving.
In the next two years, the "Seven Major Technology Bases" 2.0 will enter the stage of full implementation and application, which will strongly empower SAIC's independent and joint venture brands to launch nearly 30 new models. The DMH super hybrid system is centered on software algorithms, matching dedicated hardware such as hybrid-specific efficient engines, gearboxes, and long-range batteries. The "super fusion" allows the vehicle to have sufficient power performance, excellent fuel economy, and ultra-long range. The technical level is leading in the industry. At present, independent brand DMH models such as Roewe D7, Roewe D5, and MG HS are gradually entering the market. Joint venture brands will also launch new cars using DMH technology in the future. The MG3 HEV with low fuel consumption and low emissions will soon be launched in Europe, saving 1 liter of fuel per 100 kilometers. Its performance is fully superior to Japanese competitors, and its target is directly aimed at the European A-class car head market segment. This is also one of SAIC's important measures to actively respond to EU anti-subsidy duties.
Joint venture cooperation opens a new chapter. On May 20, SAIC Motor and Audi officially announced that they would jointly develop three high-end smart electric vehicles for SAIC Audi and jointly develop the Advanced Digitized Platform. On June 27, SAIC and Volkswagen signed a new product technology cooperation agreement to jointly develop three plug-in hybrid models and two pure electric models. As the global automotive industry accelerates into a new era of electrification and intelligence, and China's new energy vehicles rise strongly, from "technology introduction" to "technology co-creation", China's automotive industry joint venture cooperation has entered a new stage of "in China, for China". Relying on the world's top smart electric technology, SAIC will work with foreign partners to "empower technology" and jointly support joint ventures to build new core capabilities, open up new business markets, and achieve sustainable development.
Author: Zhou Yuan
Text: Zhou Yuan Photo: SAIC Group Editor: Zhang Yi Responsible Editor: Rong Bing
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