MG’s parent company ranks 60th on Fortune Global 500

27-08-2021
SAIC Motor, the parent company of MG, ranked 60th on the latest Fortune Global 500 list. This is a ranking of the world’s largest companies by revenue, underlining the size and clout of the Chinese company.

SAIC Motor (SAIC Motor Corporation Limited) is the largest carmaker in China for the past 15 years and among the top 10 largest automotive manufacturer in the world. It sold 5.6 million vehicles in 2020, with 107.56 billion dollars in operating revenue.

SAIC Motor formed a joint venture with Volkswagen in 1984 and has been producing Volkswagens for the Chinese market under the manufacture name of SAIC Volkswagen ever since. In 1997, SAIC Motor and General Motors created a similar joint venture.

In addition, SAIC Motor launched several self-owned brands. Starting with MG obviously, but also brands like Wuling, Baojun, Maxus, Roewe, R brand, IM and several others. These self-owned brands account for a record breaking 2.599 million sold vehicles in 2020, accounting for 46.4% of its total sales.

Sales of battery-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell electric vehicles – also known as new energy vehicles (NEVs) – by SAIC Motor saw a year-on-year increase of 73.4% in 2020. This represents the fastest growth rate and highest sales figures in China.

With these figures, SAIC Motor ranked 60th on the latest Fortune Global 500 list, ranking just below BMW Group and above Hyundai Motor Company for example, as Fortune reported in August 2021. Since 2014, SAIC Motor has been among the top 100 companies on the list.

What about MG?

SAIC Motor has built up lots of expertise in how to develop a high-quality car according to the high standards. Along with the attractive designs created by SAIC’s design studios in Shanghai and London, and the unbridled focus and commitment to create a successful brand, MG is uniquely capable of producing a made in China car that exceeds the expectations of European motorists.

The numbers don’t lie: MG achieved a sales record in the first half of 2021. Despite the pandemic, it sold almost five times as many vehicles in mainland Europe: 7.103 units in the first half year of 2021 compared to 1.431 units in the first six months of 2020. MG is now on sale in sixteen European markets. More than 200 MG Brand Stores and services point are now in use in Europe and the brand expects to have 400 MG Brand Stores operational by the end of the year.

The MG family will grow furthermore. The brand announced several other all-new all-electric models. The MG Marvel R Electric – a new generation C-SUV – will arrive at the European MG Brand Stores this autumn, as well as the new MG5 Electric: the world’s first all-electric station wagon. And there is more to come.

What to expect from SAIC Motor in the future?

To name a few examples: in terms of electrification, a new-generation electric battery system will be put into production by the end of this year, with improved safety, fast charging, and energy conversion efficiency. In 2025, SAIC Motor will launch a solid-state lithium battery with high safety standards and high energy density for commercial applications.

In terms of intelligence and connectivity, its 5G-enabled autonomous heavy-duty trucks have operated more than 420,000 kilometres at Shanghai Yangshan Port area and completed the commercial trial operation of transporting 21,000 TEUs last year. In addition, by the end of this year, the company plans to put 40 to 60 ‘Robotaxies’ under pilot operation in Shanghai and Suzhou, with the goal of putting the vehicle into mass production in five years.

In terms of software technology, SAIC Motor has conducted a comprehensive layout of the five centres of software development, big data, artificial intelligence, cloud computing, and cyber security, thus initially establishing the digitalized software technical capabilities.

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