SAIC Motor Climbed to Rank 36th on Annual Fortune Global 500 List 2018.07.19

The US Fortune Magazine released the annual Fortune Global 500 list in the evening of July 19, 2018 Beijing time. SAIC Motor Corporation Limited (hereinafter referred to as "SAIC Motor") climbed 5 places to rank 36th, thanks to its $128.819 billion in revenues. It marked the 14th time that the company had made it onto the list of Fortune Global 500.

                        

Fortune Global 500 (SAIC Motor)

With the rapid development of the Internet and communication technologies, the auto industry has ushered in a period of major revolutionary opportunities. SAIC Motor has always been insisting on innovation & transformation and future layout, firmly grasped the trend of “Electrification,Intellectualization&Connectivity, Sharing, Internationalization”, and actively enhancing innovation and resourcing abilities through win-win combination of joint ventures and independent enterprises and with an avalanche of leading innovative services. In the first half of the year, SAIC Motor's sales of completed vehicles exceeded 3.52 million units with a year-on-year growth rate of 10.9%, a growth rate more than twice the market average, greatly expanding the leading edges of SAIC Motor.

In particular, the self-owned brands, through a decade of trials and errors, ushered in an outbreak of comprehensive competitiveness, and embarked on the track of rapid development. SAIC Motor passenger vehicle corporations, ROEWE and MG surged 53.7% year-on-year, leading the domestic mainstream passenger vehicle corporations. SAIC MAXUS's sales increased by 36.6% year-on-year; joint ventures made steady progress, SAIC Volkswagen and SAIC GM ranked top three in sales among passenger vehicle corporations, and SGMW continued to maintain top one in the entire industry. In the first half of the year, all the four affiliated vehicle companies of SAIC Group, i.e. SAIC Volkswagen, SAIC GM, SGMW and SAIC Passenger Vehicle Co. entered top ten in passenger vehicle market sales for the first time.

To our greater joy, SAIC Group's technological innovation and business model innovation projects are explosively coming into being. The newly established AI Intelligent Lab will, using in-depth learning-based algorithm, be committed to comprehensively improving work efficiency in different scenarios of the industry chain, thus bringing greater value for users; with the widespread advancement of three technological routes of PEV, PHEV, fuel cell, SAIC Motor initiated a new round of innovation in new energy core technologies, such as "electric-drive, battery, electric-control" core parts, PEV-specific architecture, high-power fuel cell stack; the Internet Vehicle Intelligent System - Banma Smart Travel is imminently being upgraded to Version 3.0, the layout of the intelligent network industry chain is constantly improved, and the intelligent driving vehicles equipped with "the last kilometre autonomous parking" function will be officially launched this year; establish a big sharing mode-based travel platform, covering major car use scenarios and creating high-frequency traffic flow entry; international operation contributes to differentiated competitive advantages as sales in the first half of the year doubled on a year-on-year basis, thus taking the lead to forming a multiple of 10,000 unit-level markets. By striving to enhance innovation and resourcing ability, SAIC Motor achieved an overall enhancement in development level and gained powerful first-mover advantage in the auto industry, thus breaking through a total market value of RMB 400 billion, and ranking 4th among the listed companies in the global auto industry (by the end of June).