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SAIC Motor devises plan to wrest EV sales crown from Tesla

China's state-owned giant to launch high-end new-energy vehicle brand

SAIC Motor unveiled its first fuel-cell-powered multipurpose vehicle, the Maxus Euniq 7, in Shanghai in mid-September as part of a broader push to harness hydrogen as a key fuel of the future.   © Imaginechina/AP

SAIC Motor, China's largest carmaker, has Tesla in its crosshairs.

The state-owned giant has plans to launch a high-end new-energy vehicle (NEV) brand, Caixin has learned, in the latest local challenge to U.S. veteran Tesla in one of the world's biggest electric vehicle (EV) markets.

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