SAIC Motor in Fortune Top 50
MG Motor could be a brand to watch in the Australian market with the famous British brand now under the control of the powerful SAIC Motors.
The state-owned Chinese car manufacturer is among the ‘Big 4’ in its home market and is producing about six million cars every year.
That makes it the world’s 7th largest automotive manufacturer.
Since returning to the Australian market in late 2016, MG has made a reasonably solid go of it with some encouraging sales numbers.
What’s different though for MG this time around is that it has backing from a big player.
Fortune magazine has just ranked SAIC Motor 41st in its latest Global 500 list.
Five years ago, SAIC Motor was ranked 130th.
The strong result comes after the operation announced 2016 revenue of $113 billion USD ($142 billion AUD), 6.7% ahead of 2015 revenue.
SAIC Motor Key Data:
- Just opened innovation centre in Silicon Valley (USA)
- International sales in 15 countries/regions
- New manufacturing bases in Thailand and Indonesia
- China’s number one vehicle exporter
While the Chinese car manufacturer says it will also make big strides in electric and hybrid vehicle development.
One of those models is expected to be electric-drive MG model featuring similar tech to that found in the recently unveiled MG GS Concept.
SAIC Motor telling us it is committed to driving growth and building the business in Australia.
Stay up to date with the latest MG News at behindthewheel.com.au.