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Shanghai Automotive Industry Corporation (Group) (abbreviated as "SAIC Motor") is China's largest listed automotive enterprise (Stock Code 600104), headquartered in Shanghai. The group's history dates back to the "Shanghai Internal Combustion Engine Parts Manufacturing Company" established in 1955. It was formally established in 1984 and listed on the Shanghai Stock Exchange in 1997.
SAIC's business covers sectors such as whole vehicles, parts, mobility services, finance, and international operations. It owns independent brands including IM, Roewe, MG (Morris Garages), Rising Auto, and Shangjie, as well as joint venture brands in cooperation with automakers such as Volkswagen and GM. In 2025, total vehicle sales reached 4.507 million units, total operating income was 6,562.4 billion RMB, and net profit attributable to the parent company was 10.11 billion RMB.
SAIC's development can be divided into three major stages.
Joint Venture Foundation (1984-2000): In 1985, SAIC Volkswagen was established through a joint venture, using the Santana to open the door to the Chinese sedan market. In 1997, it formed SAIC General Motors as a joint venture with GM, building a foundational framework covering the mid-to-high-end market.
Independent Brand Exploration (2001-2015): The Roewe brand was launched in 2006, and British Rover technical assets were acquired in 2007 to establish the MG brand. The proportion of independent brand sales rose to 28%.
Smart Electric Transformation (2016–present): In 2016, the "New Four" (Smart, Connected, Electrified, and Shared) strategy anchored the 13th Five-Year Plan. Seven technical foundations were launched in 2022. Cumulative R&D investment exceeded 150 billion RMB in 2025, and the independent brand sales share climbed to 65%, completing the underlying shift from joint venture dependence to independent leadership.
SAIC has constructed a "Independent + Joint Venture + Premium" gradient layout.
Independent Brand Sector: IM is positioned as high-end smart electric, with Q1 2026 sales increasing 96.9% year-on-year. Roewe focuses on the mid-to-high-end market. MG (Morris Garages) targets the younger market. Shangjie is a new cooperation brand created with Huawei in 2025.
Joint Venture Sector: Cooperations with Volkswagen, GM, and Audi cover various vehicle types. In 2025, SAIC Volkswagen sold 1.024 million units, SAIC GM sold 0.535 million units, and SAIC-GM-Wuling sold 1.615 million units.
Commercial Vehicle Sector: SAIC Maxus covers light commercial vehicles, MPVs, and other categories, with Q1 2026 sales increasing 14.3% year-on-year.
In 2025, SAIC's total vehicle sales reached 4.507 million units, up 12.3% year-on-year. Consolidated revenue was 6,562.4 billion RMB, up 4.6%. Net profit attributable to the parent was 10.11 billion RMB, a significant increase of 506.5% year-on-year. Independent brand sales reached 2.928 million units, up 21.6% year-on-year, accounting for 65% of the group's total sales. New energy vehicle sales reached 1.643 million units, up 33.1% year-on-year, nearly five percentage points higher than the national average growth rate for NEVs. Overseas and export sales reached 1.071 million units, up 3.1% year-on-year, cumulatively breaking through 6 million units.
In Q1 2026, SAIC achieved total vehicle retail sales of 1.008 million units, making it the only automotive company in China's industry to break the million-unit mark in a single quarter. Net profit attributable to the parent was 3.03 billion RMB, up 50.9% year-on-year. The company strives to achieve total vehicle sales of 5 million units and total operating income exceeding 700 billion RMB for the full year of 2026.
SAIC has cumulatively invested over 150 billion RMB in R&D, forming nearly 26,000 effective patents. The Seven Technical Foundations 2.0 cover three vehicle platforms for pure electric, hybrid, and hydrogen fuel, as well as battery, electric drive, and super-hybrid systems.
Solid-State Battery Leadership: The IM L6 was the first to be equipped with the first-generation solid-state battery, and the MG4 has fully mass-produced semi-solid-state batteries.
Intelligent Driving: The IM AD 3.0 end-to-end large model has achieved mass production deployment, obtaining the only passenger and commercial dual-domain intelligent connected demonstration operation license in Shanghai.
Intelligent Chassis: The Lingxi Digital Chassis 3.0 achieves millisecond-level coordination of four-wheel steering and wire-controlled braking.
Powertrain: The DMH super hybrid system has achieved a thermal efficiency breakthrough of 46.3%, and equipped vehicles have reached an ultra-long range of 2,050 kilometers.
Win-Win for Three Parties: SAIC co-developed intelligent driving algorithms with Momenta, established strategic chip cooperation with Horizon Robotics, and provided mass production scenarios for Huawei ADS 3.0.
2025 was the first year of SAIC's transition from "product going global" to "value chain going global," with the official release of the Overseas Strategy 3.0 — the "Glocal" (Global + Local) strategy. Exports reached 1.071 million units for the full year. The company established three major R&D innovation centers overseas, including one in London, as well as four major production bases in Thailand, Indonesia, India, and Pakistan. It formed one "300,000-unit-level" global regional market (Europe) and five "50,000-unit-level" global regional markets, with products covering over 170 countries and regions. The MG brand sold over 300,000 units in Europe, winning the title of China's top single-brand exporter for 11 consecutive years. MG hybrid model sales reached 137,000 units, and pure electric models reached 46,000 units. The overseas sales target is 1.5 million units. The company will anchor itself on the main channels of intelligent connectivity and electrification, transforming from vehicle manufacturing to a comprehensive service provider for mobility and green technology solutions. It will comprehensively advance the four major actions of "brand renewal, technology renewal, product renewal, and channel renewal." With the layout of the whole industry chain going global and the cultivation of innovation ecosystems, SAIC is providing a new modern paradigm for the transformation and upgrading of China's traditional automakers.
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