SAIC is on the lookout for European factory location
The Chinese car company SAIC is planning to build a plant for electric vehicles in Europe and is currently looking for a location. SAIC has joint ventures in China with Volkswagen and General Motors that produce electric cars, among other things.
According to Reuters, the company is not yet giving any further details. SAIC is active abroad primarily with the MG Motor passenger car brand and the Maxus commercial vehicle brand. MG Motor currently accounts for about 70 per cent of all vehicles sold by SAIC outside China, it says. Specifically, SAIC says it sold 530,000 vehicles overseas in the first quarter of 2023, up 40 per cent year-on-year. Sales of MG vehicles in Europe more than doubled to 115,000 units in the first half of the year, according to SAIC.
Currently, MG develops its vehicles in Europe but produces them in China. The latest example is the MG Cyberster electric roadster, which the brand unveiled at Auto Shanghai this year and is due to be launched in mainland Europe and the UK from the summer of 2024. The MG4 and MG5 volume models are currently already available there. So is the MG ZS EV.
SAIC estimates that its overseas sales could exceed 1.2 million units in 2023. More than ten new models under the MG brand are also expected to be launched worldwide in the next 18 months. The group already operates production facilities outside China in Thailand, Indonesia and India.
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