SAIC Motor has announced two significant milestones in 2024, with terminal deliveries reaching 4.639 million vehicles and new energy vehicle (NEV) sales hitting a historic high.
These remarkable achievements underscore the corporation’s commitment to comprehensive reform and innovation, focusing on building its proprietary brands and advancing its technological capabilities.
In December 2024 alone, SAIC Motor’s wholesale vehicle sales hit 483,000 units, while terminal deliveries reached 506,000 units, marking the sixth consecutive month of sales growth. Throughout the year, cumulative wholesale sales amounted to 4.013 million units and terminal deliveries totaled 4.639 million units. SAIC Motor’s high-quality products and services have garnered widespread recognition among consumers globally.
Innovation and reform drive SAIC Motor’s success
SAIC Motor’s strategy of deepening reform and accelerating innovation has paid off. The company’s self-owned brands, including IM, Roewe, Rising, MG, Maxus, Wuling, and Baojun, saw sales reach 2.408 million units in 2024, accounting for 60 percent of the corporation’s total sales — an increase of 5 percentage points from 2023. NEV sales surged to a record 1.234 million units, up 9.9 percent year-on-year. A total of 66,000 high-end NEV brand IM Motor units were sold, a 71.2-percent increase from the previous year.
Overseas markets also contributed significantly, with terminal deliveries reaching 1.082 million units, a 2.6-percent increase year-on-year, continuing to rank among the highest in the industry. Despite challenges such as the EU’s anti-subsidy measures, SAIC Motor’s MG brand achieved a breakthrough in the hybrid electric vehicle (HEV) segment in Europe, with sales surpassing 240,000 units, demonstrating resilience and growth.
Technological advancements propel SAIC Motor forward
SAIC Motor’s decade-long investment in core intelligent electric technologies has yielded impressive results. With nearly 150 billion yuan ($20.55 billion) invested in R&D and over 26,000 valid patents, the company has introduced “Seven Technological Pillars”, including pure electric, hybrid, and hydrogen vehicle platforms, along with advanced batteries, electric drives, super-hybrid systems, and intelligent vehicle solutions.
In 2024, SAIC Motor launched the “Seven Technological Pillars 2.0”, featuring cutting-edge innovations such as solid-state batteries, digital smart chassis, “centralized + regional” electronic architectures, advanced intelligent driving, DMH super-hybrid systems, and Rubik’s cube batteries. These technologies are set to empower both self-owned and joint venture brands, driving continuous breakthroughs.
Strategic partnerships and joint ventures
In May 2024, SAIC Motor and Audi announced a collaboration to develop multiple high-end intelligent electric vehicles and a smart digital platform, marking the first time SAIC Motor’s intelligent electric technologies have supported a century-old luxury brand. In November, SAIC Motor and Volkswagen renewed their joint venture agreement ahead of schedule, committing to co-develop over 10 new models, including pure electric and plug-in hybrids, and thus supporting the joint venture’s “second entrepreneurial wave” in electrification and intelligence.
These partnerships highlight the mutual respect and commitment to win-win cooperation between Chinese and foreign automotive enterprises, signifying a new era of “technological co-creation” in the Chinese auto industry.
Looking ahead to 2025
As SAIC Motor looks to 2025, the company remains steadfast in its development goals, accelerating transformation and upgrading efforts. With a focus on implementing top intelligent driving solutions and solid-state battery technologies across its self-owned and joint venture brand vehicles, SAIC Motor aims to achieve a rebound in sales and stabilize operations, continuing its upward momentum in the global automotive market.
