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Chinese automaker SAIC pours $43bn into advanced tech: chairman

Self-driving cars will be mass-produced, Chen Hong says

SAIC Motor's Marvel R electric vehicle on display at the Shanghai auto show in April 2021.   © Reuters

BEIJING -- SAIC Motor plans to invest 300 billion yuan ($43 billion) in advanced technologies over the five years through 2025, the Chinese automaker's chairman told Nikkei.

The spending focuses on new-energy vehicles -- which include electrics and plug-in hybrids -- as well as connected and smart cars, including autonomous driving tech, Chen Hong said. SAIC aims to lift sales of new-energy vehicles to more than 2.7 million units in 2025, a 270% increase from 2021.

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