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    SAIC Motor
      SAIC Motor
      
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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.
Aug.17 2024 13:32 PM

- The European Commission (EC) has initiated an anti-subsidy investigation into Chinese-made electric vehicles, alleging competitive pricing due to government subsidies.
- Provisional tariffs might be imposed starting July 4, with Chinese manufacturers like SAIC, Geely, and BYD facing differentiated tariff rates.
- The tariffs increase the overall cost of Chinese electric vehicles in Europe, potentially impacting exports, with companies considering localized production in Europe as a long-term solution.
Jun.22 2024 13:22 PM

Fundraising by ride-hailing service brings in autonomous-driving startup Momenta as an investor in a move toward robotaxis
Aug.16 2022 04:35 AM

NEV shipments more than double in the first half led by industry giant SAIC and joined by Great Wall, Geely, BYD, Nio and Xpeng
Jul.26 2022 06:14 AM

Foreign businesses will have to obtain regulatory approval to market, promote and sell futures products in China
Apr.20 2022 09:20 AM

The EV-maker leads funding round in Beijing-based Zvision, a developer of lidar sensors for autonomous vehicles and intelligent robots   
Jan.11 2022 21:03 PM

Jul.15 2021 15:05 PM

Feb.24 2021 17:51 PM

Deal worth $245 million brokered by authorities ends month-long battle between China’s two biggest automakers as Lu Zhenyao’s empire teeters
Jul.21 2020 04:37 AM

Jul.22 2019 17:14 PM

SAIC joins the parade of automakers seeking growth from offering services as China vehicle sales stall
Dec.20 2018 05:45 AM

Alibaba plans $200 billion of imports, Luckin Coffee seeks to double valuation to $2 billion, Tencent announces age verification for all gamers
Nov.7 2018 17:40 PM
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