Shanghai - Delayed Quote CNY

SAIC Motor Corporation Limited (600104.SS)

14.11

-0.03

(-0.21%)

At close: June 7 at 3:00 PM GMT+8

European nations compete for Chinese EV factories, jobs even as EU weighs tariffs

European governments may be wary of budget Chinese electric vehicles flooding their markets but they're also fiercely competing for a share of the manufacturing investment and jobs the new competitors bring. While the European Union investigates China's auto subsidies and considers tariffs on imports, national governments across the bloc are dangling their own incentives to attract Chinese automakers looking to build European factories. Manufacturing costs for Chinese EV makers including BYD, Chery Automobile and state-owned SAIC Motor are much lower at home but they are nonetheless keen to set up in Europe to build their brands and save on shipping and potential tariffs, said Gianluca Di Loreto, a partner at consultancy firm Bain & Company.

Reuters 8 hours ago

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Xi’s China EV Dream Came True. 10 Years On, Walls Are Going Up

(Bloomberg) -- Ten years ago almost to the day, while checking out a handful of luxury sedans from one of China’s largest automakers SAIC Motor Corp., President Xi Jinping gave a pivotal speech that would set China on the course to dominate the electric vehicle industry.Most Read from BloombergWorld’s Largest Nuclear Plant Sits Idle While Energy Needs Soar‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate JumpWarning Signals Are Flashing for Homeowners in Texas and FloridaInsurers Sink a

Bloomberg 14 days ago

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Audi and SAIC to develop EV platform for China

Cooperation starts with three BEV models covering B and C segments

Just Auto 20 days ago

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Audi furthers EV push into China with new platform agreement

Volkswagen’s Audi premium group is pushing deeper into the Chinese market with domestic partnerships, signing a deal with state-owned SAIC to develop new EVs for the mainland. This comes as global rivals like GM and Ford look to minimize losses in the region.

Yahoo Finance 20 days ago

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Exclusive-China's SAIC aims to slash jobs at GM, VW ventures and EV unit, sources say

China's SAIC Motor aims to cut thousands of jobs this year at its joint ventures with General Motors and Volkswagen and at an electric-car unit, two people with knowledge of the matter told Reuters. The state-owned automaker hopes to cut 30% of employees at SAIC-GM, 10% at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said.

Reuters 2 months ago

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China's SAIC set to add 14 vehicle vessels to boost exports

SHANGHAI/BEIJING (Reuters) -SAIC Motor Corp plans to add 14 vehicle vessels in the next three years to its fleet of carriers as the state-owned Chinese automaker aims to boost sales in overseas markets, it said on Wednesday. SAIC-owned Anji Logistics operates 31 carriers that have been shipping vehicles produced by Chinese automakers including Dongfeng, Yutong Bus and Great Wall Motor as well as SAIC's own brands to South East Asia, Mexico, South America and Europe, the company said. SAIC, which sold 1.2 million vehicles out of China in 2023, aims to increase its sales in overseas markets to 1.35 million units in 2024, China's The Paper reported.

Reuters 4 months ago

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Electric Car Companies From China Are Flocking to Hong Kong

(Bloomberg) -- Companies involved in China’s electric car industry are setting up shop in Hong Kong to leverage the city’s financial system for their global expansion, investing over $1 billion so far and creating hundreds of jobs.Most Read from BloombergIslamic State Claims Responsibility for Deadly Iran BlastsBusiness Insider Says Ackman’s Wife Plagiarized Doctoral ThesisHuawei Teardown Shows 5nm Chip Made in Taiwan, Not ChinaJust a Billion Doesn’t Cut It on This Exclusive Florida IslandTroubl

Bloomberg 5 months ago

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UPDATE 1-China's IM Motors seeks OK on L3 highly autonomous vehicles

IM Motors, the electric car brand of state-owned Chinese automaker SAIC Motor, on Monday said it is applying to China's industry ministry for product entry of Level 3 autonomous driving cars. IM Motors, which is also backed by Alibaba Group investments, said its EVs could be among the first models approved as legitimate highly autonomous driving vehicles by the Ministry of Industry and Information Technology (MIIT). Chinese regulators have issued new policies to accelerate mass adoption of autonomous driving technologies after allowing companies to carry out city road tests in the past five years.

Reuters 5 months ago

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China's IM Motors seeks OK on L3 highly autonomous vehicles

SHANGHAI (Reuters) -IM Motors, the electric car brand of state-owned Chinese automaker SAIC Motor, on Monday said it is applying to China's industry ministry for product entry of Level 3 autonomous driving cars. IM Motors, which is also backed by Alibaba Group investments, said its EVs could be among the first models approved as legitimate highly autonomous driving vehicles by the Ministry of Industry and Information Technology (MIIT). Chinese regulators have issued new policies to accelerate mass adoption of autonomous driving technologies after allowing companies to carry out city road tests in the past five years.

Reuters 5 months ago

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UK's best selling cars revealed

These are the top 10 best selling cars in the UK in November.

Yahoo Finance UK 6 months ago

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JSW, China's SAIC form new India venture for green mobility

Indian conglomerate JSW Group and China's SAIC Motor have formed a joint venture in India with a focus on green mobility and to develop the electric vehicle ecosystem, the two companies said in a statement on Thursday. JSW will take a 35% stake in the new Indian joint venture, the companies said. SAIC already has a presence in India through its fully owned unit MG Motor India but has struggled to grow its presence in the country after Chinese investments faced increased scrutiny from New Delhi.

Reuters 6 months ago

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Tesla’s China Exports in Crosshairs of EU Anti-Subsidy Probe

(Bloomberg) -- One automaker is looming larger than any other in the investigation of electric vehicles flowing into the European Union from China: Tesla Inc.Most Read from BloombergWhy a US Recession Is Still Likely — and Coming SoonAirbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.Severe Crash Is Coming for US Office Properties, Survey SaysJPMorgan’s Dimon Predicts 3.5-Day Work Week for Next Generation Thanks to AI The Secret Plot Against the Head of the World Health Organizatio

Bloomberg 8 months ago

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VW stock lower as auto giant cuts sales forecast, refocuses China efforts

Shares of global auto giant Volkswagen are slipping today after the company cut its global delivery forecast as it tries to control higher input costs and a new strategy in the all-important Chinese market.

Yahoo Finance 10 months ago

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Audi in talks to buy Chinese automaker SAIC's EV platform -sources

Germany's Audi is in talks with SAIC Motor Corp to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share. The move, coming as sales of Audi's EV products fall sharply behind those of Tesla and domestic competitors such as Nio, spotlights the pressure on all legacy and Western brands in the world's largest auto market, as they battle over EVs. The premium car brand of Volkswagen AG seeks to take over the EV platform owned by SAIC's EV unit, IM Motors, said the sources, who sought anonymity as the matter is private.

Reuters 10 months ago

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UPDATE 1-China's SAIC doubles down on European expansion with EV plant plan

China's SAIC Motor is working on the site selection to build a plant in Europe to produce electric vehicles, the company said on Tuesday, as it presses ahead with it expansion in the region. The Chinese partner of Volkswagen and General Motors, which did not give further details on the plant plans, said it had sold 530,000 units overseas in the first quarter, an increase of 40% from a year earlier. Sales of MG cars in Europe more than doubled to 115,000 units in the first half, SAIC added.

Reuters 11 months ago

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SAIC's MG Motor brand launches new electric vehicle leasing offer in France

MG Motor, owned by Chinese company SAIC Motor, on Friday announced a new leasing offer whereby drivers in France can get for 99 euros ($107.6) a month its MG4 electric car, matching a scheme the French government would like to see benefiting cars made in Europe. The offer runs from July 1 through to August 31 and is done in conjunction with MG Motor's French banking partner Credit Agricole Consumer Finance. MG Motor's offer comes as major car companies from around the word compete in the electric car market, which is forecast to grow rapidly as customers ditch older models given current trends to protect the environment.

Reuters 11 months ago

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Performance Overview

Return	600104.SS	SSE Composite Index
YTD	+4.29%	+2.57%
1-Year	+7.25%	-4.51%
3-Year	-22.74%	-15.05%

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SAIC Motor Corporation Limited (600104.SS)

European nations compete for Chinese EV factories, jobs even as EU weighs tariffs

Xi’s China EV Dream Came True. 10 Years On, Walls Are Going Up

Audi and SAIC to develop EV platform for China

Audi furthers EV push into China with new platform agreement

Exclusive-China's SAIC aims to slash jobs at GM, VW ventures and EV unit, sources say

China's SAIC set to add 14 vehicle vessels to boost exports

Electric Car Companies From China Are Flocking to Hong Kong

UPDATE 1-China's IM Motors seeks OK on L3 highly autonomous vehicles

China's IM Motors seeks OK on L3 highly autonomous vehicles

UK's best selling cars revealed

JSW, China's SAIC form new India venture for green mobility

Tesla’s China Exports in Crosshairs of EU Anti-Subsidy Probe

VW stock lower as auto giant cuts sales forecast, refocuses China efforts

Audi in talks to buy Chinese automaker SAIC's EV platform -sources

UPDATE 1-China's SAIC doubles down on European expansion with EV plant plan

SAIC's MG Motor brand launches new electric vehicle leasing offer in France

Performance Overview