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SAIC's NEV sales up 30% in H1
Chinese automaker SAIC reported a 30% increase in its new energy vehicle (NEV) deliveries in the first half of the year, becoming the second-largest NEV seller among domestic carmakers.
The state-owned firm delivered 524,000 NEVs in the period. The total NEV deliveries include JV and subsidiaries’ volume, such as those from MG Motors. However, a breakdown has not been provided.
In the overseas market, SAIC sold 548,000 units (both NEV and ICE), an on-year increase of 12.7%, Kallanish notes.
The company posted a net profit of CNY 6.6 billion ($931 million) in H1, which is 6.45% lower than a year earlier. Its operating income fell 12.4% to CNY 277 billion.
In response to the European Union's anti-subsidy investigation, SAIC said it has been actively conducting legal defence by submitting questionnaires, written defence, and presenting opinions at special hearings, providing thousands of documents and written evidence. The company and its subsidiaries are set to face countervailing tariffs of 36.3% plus the usual 10% levy in the EU market.
The flagship model, MG3 HEV, has been launched in Europe and is expected to make a breakthrough in the A-class car market. Hybrid and plug-in hybrid cars are not subject to additional tariffs in the EU.
“SAIC’s sales in Europe this year will not be lower than last year. The enthusiasm for hybrid electric vehicle products is beyond our imagination,” says Jia Jianxu, ceo of SAIC Group. “Some orders will not be delivered until the first quarter of next year.”
In terms of new models, the battery electric mid-large coupe IM L6 equipped with solid-state batteries will soon start delivery. The battery electric mid-large SUV, IM LS6, with visual meteorological conditions (VMC) technology will debut at the upcoming Chengdu Auto Show.
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Anonymous
Very good overview of the weekly steel market.
Anonymous