SAIC Motor places 93rd in 2024 Fortune Global 500 list

MANILA: SAIC Motor Corporation Limited was recently included in the Fortune Global 500 list for 2024. 

Specifically, the Chinese carmaker was ranked 93rd on the list. Per the marque, its inclusion in  Fortune magazine’s exclusive register of companies highlights its achievements in the automotive industry. The brand also considers its inclusion in the Fortune 500 as evidence of its status as one of the best representatives of the Chinese automotive industry. 

With regards to how SAIC made it to the said list, the company said it is attributed to its heavy investments in research and development. In total, the carmaker has already poured around 21 billion US dollars (P1.201 trillion in current exchange rates) into its research and development initiatives.

It has also filed a total of 26,000 valid patents in the past decade. The car marker also made significant breakthroughs in powertrain technology, solid-state batteries, full-stack software architecture, electric vehicle architecture, and autonomous driving. 

One of the results of its focus on technological advancements is highlighted by the IM L6 mid-size crossover, which is capable of providing over 1,000 kilometers of all-electric range thanks to its solid-state battery. 

The company also mentioned the Morris Garages (MG) 3 hybrid electric vehicle (HEV), which launched for the Philippine market a few months ago. Specifically, the said model’s hybrid powertrain can offer prospective buyers an estimated savings of one liter of fuel per 100 kilometers. 

The brand’s level 3 self-driving technology, meanwhile, was already made available through the IM City Navigation on Autopilot service, which was kitted out with a detailed and complete map of China’s road network.

In terms of global vehicle sales, the Shanghai-based automaker has claimed to have sold 5.021 million vehicles in 2023 alone. Out of the said figure, 1.123 million units are “new energy” vehicles. Overseas market deliveries for SAIC also tallied at 554,000 units, making it one of the highest-ranking Chinese automotive companies in terms of exports. 

In the context of the Philippines, SAIC’s MG Philippines continues to up the ante when it comes to its vehicle offerings. 

The brand already has a strong lineup and presence in the local market, but it is planning to introduce the IM L7 sedan and LS7 crossover in the Philippines soon. 

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