SAIC Motor ranks 60th on Fortune Global 500
China’s largest automobile manufacturer SAIC Motor ranked 60th on the latest Fortune Global 500 list, a ranking of the world’s largest companies by revenue, with $107.56 billion in operating revenue in 2020, Fortune reported on Aug 2.
SAIC Motor made the list for the first time in 2004. Since 2014, it has been among the top 100 companies on the list.
In 2020, the automobile manufacturer continued leading China by selling 5.6 million vehicles, including 2.599 million vehicles from its self-owned brands (including Roewe, MG, Maxus, Wuling, Hongyan, etc.), as well as 320,000 NEVs, a year-on-year increase of 73.4 percent.
SAIC Motor exported 390,000 vehicles in the same year, a year-on-year increase of 11.3 percent and ranking first in China for the fifth straight year.
To promoting the brand image, the automobile manufacturer established an premium EV brand IM and R, and launched world leading 5G-enabled MARVEL R model in 2020. In addition, its ride-hailing service platform SAIC Mobility achieved a total of 30 million users in China.
In June of this year, the company published its new vision, mission, values, and logo, indicating its transition to a user-oriented high-tech company.
In terms of electrification, a new-generation electric battery system will be put into production by the end of this year, with improved safety, fast charging, and energy conversion efficiency. In 2025, SAIC Motor will launch a solid-state lithium battery with high safety standards and high energy density for commercial applications.
In terms of being intelligence and connectivity, its 5G-enabled autonomous heavy-duty trucks have operated more than 420,000 kilometers at Shanghai Yangshan port area and completed the commercial trial operation of transporting 21,000 standard containers last year. The IM branded L7 model, a luxury pure electric smart car launched by SAIC Motor this year, can autonomously drive out of and into parking space according to the preset navigation planning. In addition, by the end of this year, the company plans to put 40 to 60 Robotaxies under pilot operation in Shanghai and Suzhou, with the goal of putting the vehicle into mass production in five years.
In terms of chips, SAIC Motor has invested in more than 10 chipmakers. The automobile manufacturer has become the largest institutional investor of Horizon Robotics, with the two companies establishing a joint artificial intelligence laboratory.
In July, Horizon Robotics released its high-performance central computing chip named Journey 5, which will be used by SAIC Motor’s self-owned brands.
In terms of software technology, SAIC Motor has conducted a comprehensive layout of the five centers of software development, big data, artificial intelligence, cloud computing, and cyber security, thus initially establishing the digitalized software technical capabilities. The company also revealed a centralized electronic architecture, a service-oriented architecture (SOA), a smart vehicle data platform, and a cyber-security solution this year.
In terms of CSR, SAIC Motor has played an active role in improving the educational development in impoverished areas, and lifting Xuanwei in Yunnan province and other cities out of poverty. It has also donated 250 million yuan ($38.68 million) worth of supplies over the past five years.