SAIC Motor Corporation announced a major managerial reshuffle: Chairman Chen Hong retired, Wang Xiaoqiu became Chairman, and Jia Jianxu, 46, was appointed President. SAIC, experiencing declining sales for several years, sold 251,000 vehicles in July 2024, lagging behind BYD with 91,000 fewer sales. The company faces intense competition, internal challenges, and reliance on its joint ventures, despite efforts to adapt with new strategies and management changes.

Chip crunch forces China smartphone shipments down 10%, augmented reality glasses startup Nreal bags $100 million funding

Opening industry to more foreign competition and pushing transition to electric vehicles will reshape world’s largest auto market

Global carmakers’ electric foray in China could bring more competition to local brands and may mean demand for local battery producers

As subsidies get phased out, automakers feel pinched to meet strict requirements

U.S. automaker aims to offer at least 10 new-energy vehicles to Chinese consumers between 2016 and 2020