SAIC Motor Corp., China’s largest automaker aims to boost sales by 14% this year, the highest number in more than a decade, while stepping up efforts in the new generation an increasingly competitive, electric vehicle.
The company aims for sales of 6.4 million units in 2021, with a 140% increase in new energy vehicle deliveries to 768,000 units, an expert said. The sales objectives are initial and may change, said the person, who asked not to be identified talking about non-public information.
SAIC, which has partnerships with Volkswagen AG and General Motors Co., saw 10% sales in 2020 to 5.6 million units. Covid-19 experienced a three-year decline for China’s automotive industry, but demand recovered in the latter half of last year due to the virus in the country and people coming to NEVn.
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Tesla Inc. has a key position. in EV sales in China, where it opened a factory a year ago, but has several domestic players such as NIO Inc. and Xpeng Inc. has emerged as rivals to the U.S. company as well as old Chinese automakers guarding SAIC.
The mobile landscape has pushed SAIC into action on intelligent electric cars. It began production at the 17 billion yuan ($ 2.6 billion) NEV factory in Shanghai in October and announced a high-end luxury car project with partners including e-commerce giant Alibaba Group Holding Ltd. at the end of last year.
A representative for SAIC declined to confirm 2021 sales targets, saying an official forecast could come later.
SAIC has been China’s largest automaker for 15 years, with total sales of 6.2 million passenger and commercial vehicles in 2019, compared to 11 million for VW, 7.7 million for GM and more than 10 million for Toyota Motor Corp.
This story was published from a wire group group with no text changes. Only the headline has changed.