Closing the Nanjing plant would be part of efforts by SAIC Volkswagen to ‘upgrade and optimize’ its carmaking capacity as demand for electric cars outpaces fuel-powered vehicles

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.

Move by German automaker’s venture with SAIC Motor shows that Chinese automaking is now leading innovation instead of just emulating foreign manufacturers, insiders say