MG Motor India’s parent company SAIC Motor ranked 39th among Fortune Global 500
by Shrutee/DNS
New
Delhi: In the 2019
Fortune Global 500 Companies list, Chinese automaker SAIC Motor has been ranked
at the 39th spot. The company achieved consolidated sales revenue of over
$136.39 billion in 2018, marking a robust year-on-year growth of 5.87%. The
parent company of marquee automotive brand MG Motor has also been ranked 7th
among all auto companies on the list and ranked 10th among all Chinese
companies.
In
2018, SAIC Motor achieved robust sales against the slowdown in the domestic
auto industry in China. The company’s annual vehicle sale volume reached 7.052
million units, a rise of 1.8% year-on-year, which led to an increase of one
percentage point year-on-year in its domestic market share to 24.1% and further
consolidated its market lead. Between January and June 2019, SAIC Motor's new
energy vehicle sales reached 82,000 units, up 42% year-on-year, while the total
international sales stood at a record 145,000 units.
With
its focus on developing electric vehicles, plug-in hybrid electric vehicles and
fuel cell vehicles, SAIC Motor leads the global automotive market in terms of
core technology related to batteries, electric drives and electric controls. Currently,
a new round of innovation in technology related to electric drive gearboxes,
electric shafts, inverters and battery management systems is in full swing. The
goal is to create an internationally-leading structure for electric vehicles.
SAIC
Motor is striving to further consolidate its dominance while paying close
attention to the changing trends in the global auto industry. The company is following
a multilayered approach of “electrification, intelligent connectivity, sharing
and globalization."
In
keeping with this vision, it has set up innovative R&D centers in London,
Silicon Valley and Tel Aviv, built vehicle manufacturing bases in Thailand,
Indonesia, and India, created 93 overseas supplier bases, and established 12
regional marketing & service centers. A subsidiary operating diversified
financial services has been established in Indonesia. SAIC Motor vehicles have
entered more than 60 countries on five continents.
MG
Motor, a British carmaker now owned by SAIC, has also successfully launched the
Hector in the Indian market. The first product of MG Motor India, equipped with
SAIC Motor's iSMART system, was officially launched at the end of June. As the
first internet car in the Indian market, the Hector has so far received more than
28,000 orders.
Looking
ahead, SAIC Motor will continue to promote innovation and explore deeper
integration of the auto industry and emerging technologies such as new energy
development, artificial intelligence and 5G communications. This aligns with
its vision to master more core technologies and become more competitive,
strengthen the company’s overall capacity and make strides in building itself
into a world-renowned auto company that boasts a global business layout,
multinational operations, international competitiveness, and brand influence.
About
MG Motor India: Founded
in the UK in 1924, Morris Garages vehicles were world famous for their sports
cars, roadsters, and cabriolet series. MG vehicles were much sought after by
many celebrities, including the British Prime Ministers and even the British
Royal Family, for their styling, elegance, and spirited performance. The MG Car
Club, set up in 1930 at Abingdon in the UK, has more than a million loyal fans,
making it by far one of the world’s largest clubs for a car brand. MG has
evolved into a modern, futuristic and innovative brand over the last 95 years.
MG Motor India has commenced its manufacturing operations at its car
manufacturing plant at Halol in Gujarat.
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