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Fortune Global 500 world's most powerful companies winner SAIC Group ranking at 60 among the world's top 500 for the eleventh year in a row.
General Manager of SAIC Middle East "In an effort to be an innovator in the automotive industry SAIC Middle East will achieve its goals in line with the EXPO 2020 as a world famous automotive company."
United Arab Emirates: SAIC Motor Corporation Limited (SAIC Motor) China's A-share market automotive manufacturing company headquartered in Shanghai, China with multinational operations has officially announced the launch of the company in the UAE as its Middle East headquarter.
SAIC has the largest sales volume more than any automaker in China in 2014 making more than 5.61 million vehicle units overall with the growth ratio reaching 10.07% and market share reached 23%. From 2001 to 2014, the sales grew with the CAGR of 20.5%, SAIC ranked No.1 in sales for the last ten-years-running.
SAIC Motor is a valuable auto group in China. It can trace its origins to the early years of the Chinese automobile industry in the 1950s, when SAIC was one of the few carmakers in that age.
Currently SAIC has strong JV partners, such as Volkswagen, General Motor and Naveco. Meanwhile, SAIC Motor has variety self-owned brand, such as MG, Maxus, Roewe, Yue Jin, and Sunwin.
Another great success is SAIC landing yet another Fortune 500 spot in 2015 "Fortune" magazine. SAIC posted $102.25 billion in sales revenue in 2014. Moving 25 spots and has ranking 60 on the list making it the 9th in the automotive sector and the 11th time it makes the cut. Before the Fortune 500 list was unveiled, SAIC had announced its own ambitious new visions. The new vision says that the company will strive to "forge a world-famous innovative automobile company and lead the future auto life". It will also take the lead in seeking development through innovation and transformation.
So far, SAIC operates a large research and development centre in the United Kingdom, the SAIC Motor UK Technical Centre. The UK Technical Centre is the principal site worldwide for the development of MG cars, and it also plays a major role in the development of Roewe products. On the other hand, SAIC's foresight technology agenda highlights differentiation, combination with capital and application of new technologies. The company recently has set up a venture capital in Silicon Valley, in a bid to explore new technologies, concepts and models to boost its future development with the help of the capital market.
SAIC Motor keeps developing to the global market actively. With an increase in the export of vehicle, SAIC Motor has established manufacturing base in Thailand and the UK. Meanwhile, taking the opportunity of Shanghai Pilot Free-Trade Zone, SAIC Motor aims at emerging markets, further promoting its global operation.
Sun Guang - General Manager of SAIC Middle East "We always had plans to expand our business in the Middle East and most specifically in Dubai. The ambitions of the city reflect the vision of our company which is to continue being innovative and forward thinking. The expo 2020 was also another push especially as SAIC plans to rebrand and launch the historic British car brand MG in the Middle East as we for see a lot of interest and many business ventures."
In the previous years, as a pioneer in Intelligent-Driving car engineering, SAIC has several electronic and internet cars in its portfolio. New Energy, Internet cars and foresight technology cars are the company's main focus currently after launching its Roewe 550 plug-in hybrid car and the successfully listed new addition Roewe 750 hybrid and Roewe E50 pure electric vehicle and the MG IGS concept car, which is a smart driving car, which does not need a driver at all.
In future SAIC will continue to push forward its innovation-driven development and actively explore ways of sustainable growth, so as to accelerate the pace of building itself into a world-renowned auto company.
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About SAIC Group
SAIC Motor Corporation Limited (SAIC Motor) is the largest auto company in China. The group's main business overs the research, production and vehicle sales of both passenger cars and commercial vehicles. It also covers components including engines, gearboxes, powertrains, chassis, interior and exterior and miscellaneous electronic components, and logistics, vehicle telematics, second-hand vehicle transactions and auto finance services.
SAIC's affiliated vehicle companies include Morris Garages, SAIC Motor Commercial Vehicle Co, Shanghai Volkswagen, SAIC-GM, Shanghai General Motors Wuling (SGMW), NAVECO, SAIC-IVECO Hongyan and Shanghai Sunwin Bus Corp (SUNWIN).
SAIC Motor's car sales hit 5.62 million units in 2014, up 10.1 percent on the previous year and further consolidating its leading position in the domestic auto market. In 2014, the company climbed 25 places to rank 60th on the annual Fortune Global 500 list, thanks to its $102.25 billion in revenues. It marked the 11th time that the company had made it onto the list of the world's most powerful companies.
For more information, please visit www.saicmotor.com
For media relations, kindly contact:
Hibaq Basser
PR & Digital Marketing Manager
M: + 97150-9602091
T: +971 04-8876966
Hibaq@saicservice.com
© Press Release 2015
