China motor-vehicle maker Shanghai Automotive Group Joint-Stock Ltd. Corp., or SAIC Motor Corp. Ltd., wants to sell at least 1.5 million vehicles overseas by 2025. That is about four times its volume last year.
Company executives said SAIC Motor would be spending in the coming years to achieve the goal. SAIC Motor is aiming to get into the "huge" overseas market by expanding, its managing director of international business Yu De said.
Last year, the company - Volkswagen's joint venture partner in China - sold 390,000 vehicles internationally. This was an 11.3% year-over-year increase - and significant as a result of disruptions caused by the pandemic.
The state-owned motor-vehicle maker has mainly concentrated on the China market but changing trends have led to its expansion overseas. Overseas markets will become a priority, it says.
It wants at least 15% of sales - or about 1.5 million units - to come from overseas. SAIC Motor said it planned to concentrate on Europe, the Middle East and Association of Southeast Asian Nations countries.
By 2025, SAIC Motor expects to sell up to 300,000 vehicles in Europe - of which 80% would be electric or plug-in hybrids. SAIC Motor said it had made significant breakthroughs in the segment.
SAIC Motor initially expanded its operations outside of China in 2011. At present, the company now operates in around 60 countries with more than 750 dealerships.
Last year, SAIC Motor launched an overseas shipping service to improve delivery of cars overseas. The company said a "complete presence" in the supply chain should give it an advantage over competitors.
"We have covered car production, spare parts, logistics and even financial service. We will bring into full play our advantage to better serve our customers," the company said.
