|Jul 24, 2017|
|Jul 24, 2017|
Currency in CNY
|Full time employees:||171,395|
SAIC Motor Corp. Ltd. engages in the development, manufacture, sale of automobiles and related parts. It operates through the following business segments: Vehicles & Parts and Financing. The company's business activities include the sale of passenger and commercial vehicles, and components such as engine, transmission, power train, chassis, exterior trim and also offers automotive trade services such as auto financing business. SAIC Motor was founded on November 24, 1997 and is headquartered in Shanghai, China.
SAIC Motor is a Chinese state-owned automaker based in Shanghai. Founded in 1955, SAIC is one of China's three biggest automakers, alongside FAW and Dongfeng Motor. SAIC has established joint ventures with major Western automakers, including Volkswagen of Germany and General Motors of the U.S. In addition to producing and selling foreign brand vehicles in China, SAIC has also focused on the development of its own-brand vehicles in recent years, and has a bus and truck manufacturer under its wing.
The company set up a joint venture with Volkswagen in 1984 to produce the Santana passenger car, as part of the Chinese government's reform and opening-up policy. That was the first joint venture with foreign capital for a Chinese automaker, and played a central role in the country's increased use of automobiles.
In 1997, SAIC signed a joint-venture contract with GM to produce and sell its Chevrolet, Buick and Cadillac brands. In 2002, SAIC established SAIC-GM-Wuling Automotive, a joint venture with GM, to increase SAIC's share of the market for small, cheap commercial vehicles.
SAIC released its own brand sedan, the Roewe, in 2006. Although the automaker is trying to strengthen its own-brand vehicles to break away from foreign capital, sales are still comparatively small. SAIC is also expanding overseas operations. It has established an automotive joint venture in Thailand with the Thai conglomerate Charoen Pokphand Group.
SAIC Chairman Chen Hong studied electrical engineering at Tongji University in Shanghai. Chen was sent on loan to Shanghai General Motors in 1997 to help with the establishment of the joint venture. He stayed with the company until 2003, but is said to still have strong connections with GM.
In the news
Chinese company to invest $300 million in new Gujarat factory
July 7, 2017 10:11 pm JST
Finding and paying for power can prove a headache for drivers
July 1, 2017 7:00 pm JST
June 28, 2017 9:04 pm JST
June 28, 2017 8:19 pm JST
June 28, 2017 8:02 pm JST
June 21, 2017 8:35 pm JST
- Local currency
- US Dollar
|Income before tax||22,740.63M|
|Dividends per share||1.65|
|Operating cash flow||39,915.82M|
Currency in CNY
|Income before tax||3,422.96M|
|Dividends per share||0.24|
|Operating cash flow||6,008.19M|
Currency in USD
- President, Director & Deputy Party Secretary: Zhi Xin Chen
- Chief Financial Officer: Yong Wei
- Head-Commercial Vehicle Technology: Xin Ping Cao
- Vice President: Lang Hui Zhou
- Vice President: Jian Wei Yu
- Shanghai State-Owned Assets Supervision & Administration(77.3%)
- Nanjing State Owned Assets Supervision & Admin Commission(3.7%)
- China Securities Finance Corp. Ltd.(3.1%)
- China Investment Corp. (Investment Management)(0.9%)
- Comgest S.A.(0.6%)
- China Universal Asset Management Co., Ltd.(0.5%)
- Government of Malaysia(0.2%)
- Zhongrong International Trust Co., Ltd.(0.2%)
- China Asset Management Co., Ltd.(0.2%)
- GIC Pte Ltd. (Investment Management)(0.1%)
- Website: http://www.saicmotor.com
- Address: No. 489, Weihai Road, Jingan District, Shanghai, 200041, China
- Phone: +86.21.2201.1888
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.