11 stories mentioning SHA:600104Updated 14d ago
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SAIC Motor (SHA:600104) will establish a car factory in Spain's Galicia region, as its first industrial project in Europe, the regional government said Monday.The Chinese carmaker will invest an initial 200 million euros and set up a plant in the port city of Ferrol. The site is expected to be operational in 2028.
Chinese car manufacturers SAIC Motor (SHA:600104) and BYD (HKG:1211, SHE:002594) are looking to launch electric vehicles with all-solid-state batteries or ASSBs in 2027, Nikkei Asia reported Tuesday.SAIC and battery startup company Qingtao (Kunshan) Energy Development Group set up a prototype EV equipped with an ASSB, aimed for release in 2027 after testing, accoding to the report.ASSBs use solid materials in place of liquid electrolytes stored in conventional batteries, according to the news outlet.SAIC's MG has rolled out models with semi-solid batteries that have reduced liquid electrolytes to 5%, Nikkei said.BYD has started work on ASSBs as early as 2013 and looks to reach large-scale production in 2030, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
SAIC Motor's (SHA:600104) global sales decreased 4.6% year on year in May to 348,988 units from 365,910 in the same month last year, according to a release on Monday.The firm's vehicle production also fell 18.6% to 334,602 last month from 411,090 in May 2025, the release said.
Chinese electric carmakers increased their output in May, but sales of electric vehicles at home could continue their downturn in the month.XPeng (HKG:9868) logged a 4% increase in its deliveries to 32,158 vehicles during the month, according to a Monday press release.The electric vehicle company's deliveries in the first five months of the year are seen to reduce greenhouse gases by 2 million tons compared with internal combustion engine units, supplanting the equivalent of carbon absorption of 33.2 million young trees, the report said.NIO's (HKG:9866; SGX:NIO) deliveries surged 62% to 37,705 vehicles in May, according to a separate press release.Deliveries of the NIO brand comprised 20,013 units, while that of its ONVO brand reached 12,029 vehicles, and its Firefly brand reached 5,663.Year-to-date deliveries for NIO reached 150,526, up 69% year over year.Xiaomi's (HKG:1810) deliveries topped 30,000, EV news website CNEV Post reported, citing the automaker.The tech company, which also made its foray into electric vehicles, did not share exact figures of deliveries, according to the news outlet.SAIC Motors' (SHA:600104) joint venture with General Motors and Guangxi Automobile, saw global sales reach 126,087 vehicles, according to Chinese news site Internet Info Agency.SAIC-GM-Wuling's Red Label saw sales of 45,224 units, while its Silver Label logged 46,026 units.The rise in deliveries contrasts with the performance of domestic car sales as companies may have moved past its "golden era," Reuters reported separately Thursday, citing NIO CEO William Li.Sales may not likely rebound despite strong exports, the report said.
SAIC Motor (SHA:600104) has become China's first automaker to reach 100 million units in cumulative production and sales, according to a Thursday news release.Shares of the company rose 2% Friday.The company celebrated by delivering its 100 millionth vehicle, an IM LS9 SUV, to Momenta Chief Executive Cao Xudong.SAIC Motor's new energy vehicle sales hit a record in 2025, surpassing one-third of its 4.5 million total sales, up from under 0.1% in 2014, Xinhua News reported Thursday.Overseas sales surged 50% in early 2026, with MG selling over 120,000 units in Europe. Cumulative overseas deliveries now exceed 7 million units across over 170 countries, according to the report.
SAIC Motor's (SHA:600104) total sales declined 13% to 328,841 units in April from 376,517 units in the year-ago period, according to a Wednesday filing with the Shanghai Stock Exchange.The carmaker's production fell 14% to 345,805 units from 403,176 units in the prior-year period.Shares slipped 1% during late-morning trading on Wednesday.
SAIC Motor (SHA:600104) posted flat growth for the first quarter of 2026 versus a year earlier, as a cooling domestic market in China weighed on the automaker's overall performance.Attributable net profit inched up 0.9% to 3.03 billion yuan from 3.02 billion yuan, according to the automaker's latest financial report published Thursday to the Shanghai Stock Exchange.Earnings per share rose slightly to 0.265 yuan from 0.264 yuan, beating analysts' forecast of 0.13 yuan in a Visible Alpha survey.Total operating revenue slipped 0.3% to 140.4 billion yuan from 140.9 billion yuan in the previous year, missing the Visible Alpha forecast of 141.4 billion yuan.The sluggish performance follows a broader downturn in the Chinese automotive sector, where domestic sales fell for the sixth straight month in March, according to data from the China Passenger Car Association.Domestic car sales slumped 15.2% year on year to 1.67 million vehicles in March due to rising fuel prices amid the Middle East conflict, Reuters reported earlier in April.Exports, on the other hand, grew 73.7% in March to nearly 700,000 vehicles.SAIC was not immune to these trends. In March, the carmaker's sales fell 2.6% to 375,870 units, while output dropped 9.1% to 355,336 units.To attract more buyers, SAIC has recently doubled down on partnerships, recently striking a model development agreement with Vala (HKG:2051) to develop a new car model.SAIC also recently disclosed plans to roll out a third model developed in partnership with Germany's Audi in 2027. Their second SUV model, the AUDI E7X, was launched at this year's Beijing Auto China.SAIC also plans to expand further in Europe by establishing an electric vehicle factory in Spain, Bloomberg News reported Friday, citing insiders.While Hungary was previously considered due to EV and battery investments in the country in recent years, sources told Bloomberg that SAIC has ultimately selected Spain for its upcoming electric vehicle factory as the country is offering incentives and has been positioning itself as an EV investment hub.
SAIC Motor's (SHA:600104) attributable net profit barely moved in the first quarter of 2026 at 3.03 billion yuan from 3.02 billion yuan a year earlier, according to a Thursday filing with the Shanghai Stock Exchange.Earnings per share edged up slightly to 0.265 yuan from 0.264 yuan. The figure beat analysts' 0.13 yuan median forecast in a poll by Visible Alpha.Revenue slipped 0.3% to 140.4 billion yuan from 140.9 billion yuan, missing the Visible Alpha estimate of 141.4 billion yuan.
Vala (HKG:2051) entered a model development agreement with a SAIC Motor (SHA:600104) unit to jointly develop a vehicle based on the latter's Dana model, the firm said in a Hong Kong bourse filing Monday.The credit card management firm's shares fell by more than 1% in Hong Kong, while SAIC shares slipped almost 1% in Shanghai in early afternoon trade Tuesday.Under the partnership, both sides will work to develop two versions of the vala house model: an all-electric version and an extended-range version.Vala will be primarily responsible for designing model customization schemes and developing relevant specialized components, while SAIC Maxus RV Technology will be primarily responsible for vehicle technical verification and manufacturing.
German buyers are keen to purchase Chinese electric car brands due to rising fuel prices, Reuters reproted Thursday, citing online marketplace Carwow.Purchase queries for BYD (HKG:1211, SHE:002594) saw the fastest surge at 135% during the first quarter, the report said.Potential buyers showed most interest in BYD's electric-powered SUVs and the cheap Dolphin hatchback, the report said.Aside from BYD, other Chinese car manufacturers such as SAIC Motor's (SHA:600104) MG are seen to benefit the most from higher pump prices due to the Iran war, according to Reuters, citing the platform.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
German auto manufacturer Audi will introduce a third model in 2027 under a new Chinese brand in collaboration with SAIC Motor (SHA:600104), Reuters reported Tuesday, citing the chief executive of the cooperation.The move is seen to help regain market share in China, the report said.Since September, the Audi-SAIC cooperation has sold 10,000 units of its E5 Sportback, the first model made by the JV, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
