technology leads the future global market and saic motor strongly empowers the new decade
2024-09-09
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since entering 2024, saic motor has continued to exert its strength and attack fiercely. its latest published data shows that from january to august this year, saic's vehicle wholesale sales reached 2.336 million units, and terminal deliveries reached 2.827 million units, continuing to lead the industry. among them, in august, saic's terminal deliveries reached 377,000 units, a month-on-month increase of 12.4%, maintaining a month-on-month growth; new energy vehicles delivered 124,000 units, a year-on-year increase of 44.1%, and the sales volume ranked second among chinese automakers.
faced with an operating environment where the industry is deeply inward-looking and overseas expansion is under pressure, saic has firmly grasped structural adjustments, made every effort to promote innovative transformation, actively responded to risks and challenges, and strengthened the foundation of its business development. its 2024 semi-annual report shows that in the first half of this year, saic achieved a consolidated total operating revenue of 284.69 billion yuan and a net profit attributable to shareholders of listed companies of 6.63 billion yuan.
at the same time, in the 2024 fortune global 500 list recently released by fortune magazine, saic ranked 93rd with a consolidated operating income of us$105.2 billion in 2023, continuing to lead the chinese automobile companies on the list. it has been in the top 100 in the world for 11 consecutive years and has been among the top ten in the global industry for 12 consecutive years as a representative of chinese automobile companies.
there is no doubt that in the face of the dual challenges of "internal competition and external pressure", saic has withstood the pressure and instead demonstrated its extraordinary strength and profound foundation as an industry leader with a more high-spirited attitude.
powerful technology empowerment
in the domestic market, saic has successfully resisted the "involution" trend and maintained its leading position in the industry with its deep market insight and excellent product strength.
behind this, on the one hand, saic has combined the national and local "old for new" subsidy policies, and through a marketing "combination punch" such as market promotions, value-preserving repurchases, and financial incentives, it has worked hard to activate consumer demand, focus on terminal retail, and launch a number of new energy blockbuster products such as zhiji l6, roewe d5x, and buick gl8 plug-in hybrid. on the other hand, saic's unremitting pursuit and continuous investment in core technologies.
in the past decade, saic motor has invested nearly 150 billion yuan in the research and development of core intelligent electric technologies, obtained more than 26,000 valid patents, and successfully launched the "seven major technology bases" with internationally leading technology levels. in may this year, saic officially announced at the "new energy technology conference for the new decade" that relying on the breakthroughs and applications of innovative technologies such as efficient powertrains, solid-state batteries, full-stack software architecture, new electronic architecture, and autonomous driving, the "seven major technology bases" have leapt into the 2.0 era.
according to the plan, in the next two years, the "seven major technology bases" 2.0 will enter the stage of full implementation and application, and will "powerfully empower" saic's independent and joint venture brands to launch nearly 30 new models.
among them, the dmh super hybrid system is centered on software algorithms, matched with dedicated hardware such as hybrid-specific high-efficiency engines, gearboxes, long-range batteries, etc. 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. currently, independent brand dmh models such as roewe d7, roewe d5, and mg hs are gradually entering the market development period, and subsequent joint venture brands will also launch new cars using dmh technology.
in terms of all-solid-state batteries, the zhiji l6 equipped with lightyear solid-state batteries will be officially delivered to users in the near future. it has an energy density of more than 300wh/kg and a cruising range of more than one thousand kilometers. the all-solid-state battery with an energy density of more than 400wh/kg and better safety and low-temperature characteristics has started a 500-day countdown to production. subsequently, the energy density is expected to be further increased to 500wh/kg.
in terms of mass-produced autonomous driving, saic zhiji city noa, which represents the best level of intelligent driving in china, has successfully launched the "national map", creating a high-end intelligent driving experience for users that "can be driven across the country and is easy to use across the country"; the list of the first batch of national pilot projects for intelligent connected vehicles to gain access and go on the road has been announced, and saic has become the only car company to obtain two licenses. it plans to achieve small-scale mass production application and commercial ecological operation of l3 (conditional autonomous driving) technology in the near future.
global market advancement
in overseas markets, saic has also demonstrated strong adaptability and market development capabilities. against the backdrop of global economic pressure, saic has successfully achieved steady growth in overseas sales with its precise market positioning and high-quality products and services, becoming a model for domestic automakers to "go global". especially in the european market, saic is expected to set a new sales record this year with the dual improvement of its brand influence and product competitiveness. this is not only an important achievement of saic's internationalization strategy, but also a strong proof of the growing influence of chinese auto brands in the global market.
from january to august, saic delivered 716,000 vehicles to overseas markets, a year-on-year increase of 7.7%, ranking first in the industry. it is worth noting that in the first eight months of this year, saic mg delivered more than 160,000 vehicles in the european market, maintaining year-on-year growth. it can be said that "for every 10 chinese cars exported to europe, 7 are saic mg."
on june 12, 2024, the european commission released a preliminary disclosure of the anti-subsidy preliminary ruling, calculating a subsidy rate of 38.1% for saic. on july 4, the european commission officially announced the preliminary ruling results, announcing a tax rate of 37.6%, and took temporary measures accordingly. on august 20, the european commission released a preliminary disclosure of the final ruling of the anti-subsidy investigation, and the tax rate of saic was 36.3%. in response to the eu anti-subsidy investigation, saic actively conducted legal defense by submitting questionnaires, written defenses, and special hearings, providing thousands of documents and written evidence. at the same time, the main model mg3 hev, which is ahead of japanese competitors in technical indicators, has been launched in europe, making a strong push in the a-class car head market segment. jia jianxu, president of saic group, said, "saic's sales in europe this year will not be lower than last year. the enthusiasm for hev products is now beyond our imagination. some orders will not be delivered until the first quarter of next year."
it can be seen that saic group, with its steady performance in the domestic market and outstanding achievements in overseas markets, has vividly interpreted the profound connotation of "not fearing internal and external pressures and showing strong resilience". in the future, with the continuous advancement of new energy vehicles and intelligent connected vehicle technologies, as well as the continued recovery of the global automotive market, saic is expected to continue to maintain its leading position and contribute more "chinese wisdom" and "chinese strength" to the prosperity and development of the global automotive industry.
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