(26 August 2020 Middle East) SAIC Motor has once again ranked 7th out of all automotive manufacturers in the prestigious Fortune Global 500 list, with the latest edition confirming the company’s place in the global Top 100 for a seventh successive year.
In its 16th consecutive appearance in the prestigious index, the company has ranked 52nd overall among the world’s top 500 companies, having posted a total operating revenue of 122.0714 billion US Dollars in 2019.
SAIC Motor is now firmly established as the industry leader in its home market of China. Despite the backdrop of extremely challenging market conditions around the world, the company continues to maintain strong economic operations and is continuing with its innovation-based, four-pronged strategic approach: electrification, intelligent connectivity, sharing and globalization.
In 2020 SAIC Motor is set to launch the world’s first fuel cell MPV, and has established a dedicated ‘software centre’ to bring together the world’s top talent in the field of intelligent and connected vehicle technology. It has seen overseas sales of its owned brands increase by 15.9 percent to date. In fact, one third of all Chinese vehicles sold overseas are now manufactured by SAIC Motor.
MG Motor is a British-born car brand and has been particularly active, strengthening its brand image, vigorously launching new models, including new energy vehicles, and accelerating its expansion in international markets. Emphasising the great strides made by the brand in recent years, both MG HS and the pure electric MG ZS EV were awarded EuroNCAP’s highest five-star safety rating in December. And just a few months later a jury of the Middle East’s leading motoring experts named the MG HS the Middle East Car of the Year for 2020.
Tom Lee, SAIC Motor Middle East Managing Director, commented: “With every passing year, SAIC Motor further reinforces its position as a force to be reckoned with on the global automotive stage. In key markets around the world, the company has been experiencing strong sales and growing consumer confidence, and in the Middle East this has been evident from the success enjoyed by its MG brand, with record sales in 2019 and a strong year forecast for 2020 despite the exceptional challenges faced.”
Having enjoyed an extremely positive 2019, with total sales up by 130 per cent to 15,928 units, MG has expanded its regional network this year and is now active in nine Middle East countries.
About SAIC MOTOR Corporation Limited (SAIC MOTOR)
SAIC MOTOR Corporation Limited (SAIC MOTOR) is the listed automotive company on China’s A-share market with the largest market value. SAIC MOTOR’s business covers research, production and sales of vehicles and accessories. It also covers the automobile service and trade businesses including logistics, vehicle telematics and second-hand vehicle transactions, as well as auto finance services.
SAIC’s affiliated vehicle companies include SAIC MOTOR Passenger Vehicle Branch, SAIC MOTOR Commercial Vehicle Co, Shanghai Volkswagen, SAIC-GM, Shanghai General Motors Wuling (SGMW), NAVECO, SAIC-IVECO Hongyan and Shanghai Sunwin Bus Corp (SUNWIN).
MG is a British-born automotive brand established in 1924, known for its historic models, awards and achievements throughout the past 96 years. MG was founded by William Morris and Cecil Kimbers and has the oldest car club in the automotive industry. Best known for its two-seat open sports cars, MG also produced saloons and coupes. Since its acquisition of MG, SAIC MOTOR, as a Global Top 500 company, has opened a new chapter for this British icon. MG is at the forefront of the introduction of innovative technologies and new energy vehicles for car buyers.