23 stories mentioning SHA:600104Updated 11d ago
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Traton, Volkswagen's truck and bus-making arm, partnered with SAIC Motor (SHA:600104) for the development and marketing of light commercial vehicles in Asia, according to a Thursday press release from the German automaker.The new vehicle model line will be imported from China and will be officially presented in Brazil and Argentina in November.
SAIC Motor (SHA:600104) and Volkswagen's premium unit Audi set up a joint innovation hub for the China-exclusive all-caps AUDI brand, Reuters reported Thursday, citing a company statement.The JV will focus on vehicle and driving control technologies, AI-powered cockpits, and driver assistance systems for premium Chinese customers, according to the report.Audi did not immediately respond to a request for comment from.(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) vehicle sales in August fell 1.8% to 357,007 units from 363,371 units a year earlier, according to a Wednesday filing on the Shanghai bourse.Output dropped around 9% year on year to 342,978 vehicles from 376,821 vehicles.The Chinese automobile company's shares slipped 1% during the morning trade.
SAIC Motor (SHA:600104) posted first-half attributable net profit of 5.15 billion yuan, down 14% from 6.02 billion yuan the previous year.Basic earnings per share declined to 0.451 yuan from 0.525 yuan, according to a filing with the Shanghai bourse.The automobile manufacturer's operating revenue edged up 0.2% year over year to 294.99 billion yuan from 294.34 billion yuan.
Spain has approved SAIC's (SHA:600104) planned car plant near a naval base in the Galicia region despite espionage concerns, Reuters reported Tuesday, citing a ministry spokesperson.The Chinese automaker's factory is set to produce 120,000 MG vehicles annually from 2028, the report said.Though Spanish intelligence flagged risks due to the site's 5-kilometer proximity to a NATO-affiliated naval port, the ministry confirmed the green light, the publication said.SAIC and Galicia's regional government did not immediately respond to' request for comment.(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.)
General Motors extended its joint venture partnership with SAIC Motor (SHA:600104) for another 20 years, the American automobile company said in a press release published late Tuesday.SAIC's shares slipped 1% at the close of Wednesday's trade.The SAIC‑GM venture, launched in 1997, will now run until 2047. SAIC‑GM plans to launch at least 30 new energy vehicles by 2030 and will focus on marketing GM's Buick and Cadillac brands in China.
SAIC Motor (SHA:600104) sold 338,606 units in July, up 0.32% from 337,539 units in the year-ago period, according to a Saturday disclosure to the Shanghai bourse.Production increased 5.17% to 340,010 units from 323,292 units in the prior-year period.
Shanghai's cyberspace administration, alongside economic, commerce, market regulation and police authorities, held a compliance guidance meeting on Tuesday as part of a special campaign to regulate online information dissemination in the automotive sector.Representatives from 15 automakers including SAIC (SHA:600104), Tesla, BYD (HKG:1211, SHE:002594), Xiaomi (HKG:1810), XPeng (HKG:9868), NIO (HKG:9866, SGX:NIO), and Li Auto (HKG:2015) attended, alongside over 80 major dealer groups and platforms like Xiaohongshu, Bilibili (HKG:9626) and Hupu, according to a Wednesday statement.Officials outlined key governance areas and regulatory requirements. The market regulator detailed pricing compliance guidelines covering manufacturing to sales.
Chinese retail sales of passenger cars slid 23.2% to 1.6 million units in June, the China Passenger Car Association said in a Wednesday press release.New energy vehicle sales fell 9% during the month, with domestic brands slipping 11%, mainstream joint venture-made NEVs plunging 45%, and luxury brands declining 11%.Retail sales of gas-powered vehicles plunged 39% year over year, with pure gasoline vehicle sales falling 42% and conventional hybrids slipping 7%.Vehicle exports surged 82% to 877,000 units in June, with 56.9% of the figure coming from NEVs.Production fell 2.7% year over year to 2.3 million units.China's biggest local automakers include Dongfeng Motor Group (HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333), Chery Automobile (HKG:9973), and FAW Group (SHE:000800).Top new-energy vehicle manufacturers include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).
BYD (HKG:1211, SHE:002594) led June's new energy vehicle sales as demand for such vehicles continues to surge abroad, even as domestic expansion faces distinct retail headwinds.BYD recorded the highest number of sales among Chinese NEV makers, selling 403,472 units during the month, up 5.46% from a year earlier. The carmaker's momentum was buoyed by its overseas performance, where passenger exports nearly doubled year over year to a record 174,897 units, offsetting a cool domestic retail market.Meanwhile, Zhejiang Leapmotor Technology (HKG:9863) and Nio (HKG:9866, SGX:NIO) recorded significant increases in their global deliveries, jumping 95% and 62.9% year over year, respectively, to deliver 93,376 units and 40,597 units.Leapmotor's numbers were boosted by its extended-range hybrid lineup, while Nio's deliveries were split across its luxury brand and its emerging sub-brands.SAIC Motor (SHA:600104) maintained strong overall volume, with group-wide sales reaching 395,000 units in June, up 8.1% from the previous year. Sales were boosted by electrification across the company's portfolio. Monthly NEV-specific sales 66.6% year over year to hit 201,000 units.Meanwhile, Geely Automobile's (HKG:0175) NEV sales climbed 2% year on year to 240,799 units, while those of Chery Automobile (HKG:9973) rose 9.5% to 240,585 units.Meanwhile, XPeng (HKG:9868) sold 40,126 vehicles during the month, bringing deliveries in the second quarter to 103,295 units. The carmaker plans to launch and presale a new model, XPENG MONA L03, on Thursday.Li Auto (HKG:2015) delivered 30,895 NEVs in the same month, bringing 1.7 million units into sale as of the end of June. The automaker said it surpassed 150,000 units in cumulative production after introducing a new flagship SUV, Li L8, on June 23.The number in NEV exports rose, but analysts from S&P Global said it is not enough to lift the slumping domestic demand.On a June 15 note, the ratings firm predicted NEV domestic sales to drop by 7% year on year to 25.4 million units in June as demand slowed down due to a reduction in trade-in and NEV purchase tax incentives."While mainland China automakers have been praised for their speed to market and ability to rapidly update products and technology, this frenetic cycle has a downside," S&P Global said. "The pace of model updates from mainland OEMs is causing some consumers to delay purchases, waiting for better deals both technologically and financially."
SAIC Motor (SHA:600104) logged vehicle sales of 394,798 units in June, up 8.1% from the previous year.Vehicle production rose 13% year over year to 383,596 units, according to a Thursday filing with the Shanghai bourse.Shares of the company rose 1% in recent trade.
SAIC Motor (SHA:600104) will raise its committed capital in a partnership fund to 3.39 billion yuan from 2.5 billion yuan, according to a Shanghai bourse filing on Tuesday.In February, the Chinese automobile manufacturer and its subsidiary, SAIC Financial Holding, subscribed to the Shanghai Shangqi Shangcheng No. 2 Private Equity Investment Fund Partnership.SAIC's shares fell 2% during the morning trade.
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.
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